Summer is here again and the 2016 real estate market in Tysons Corner Virginia back on track. Traditionally March, April and May are the most popular months for sellers to put their home on the market in the Tysons Corner area (zip codes 22102 and 22182.)
In February, the year-over-year monthly new listings jumped from an already amazing 89 in 2015 to an even better 103 in 2016. And, in March the number of new listings jumped by 26% from last year. In April the number of new listings dropped but is still far above the 6 year average and the very active 2015. Remember, the graph shows new listings that month that is added to already existing homes on the market. In June the number of new listings picked up again to above the 6 year average.
The question – are there enough buyers to absorb the inventory?
Well, after a dismal March the number of closed sales increased significantly in April and May. In June the number of sales fell instead of increasing as is typical. However, April and May were both stronger than usual so overall the number of sales would still be above average.
2016 is shaping up to be yet another great year for real estate. Call me today at 703 861-0845 to chat about how I can help make it great for you too!