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Knowing Your Local Market Pays

 

Having a good understanding of the real estate market in your area is very important when thinking about buying or selling a home.

We have found through RBI some great information designed to help buyers and sellers understand our local market At the end of the day, there is the real estate professional. All of Our Agents are experts in the Real Estate Market in North Virgina.
 

Sold Listings

It is good to understand how many houses have sold in our geographical area compaired to past years in order to determine what the popularity in the area is.

Buying when the housing market is slower has some advatages:

  • Sellers will set lower prices
  • Sellers are more likley to accept offer that are less than their origial asking price
  • Less compitition with other buyers

These things will normally result in a great deal of savings for the buyer.

Contact Us and we will help you navigate the local market to get your dream home for the best possible price.

 

 

 

 Average Sold Price Vs. Original List Price

 

Average Sold Price versus the Original List Price (OLP) will normally be lower the longer it takes to sell the home. The graph below for Mid-Atlantic Region shows what precentage of the Original List Price was received on the listings that sold that year.  Understanding how to price your home properly is important when selling your house, if your house is over-priced homes take longer to sell. Consult with a Real Estate Agent that is an expert in the local market, they will help you set a more realistic price for your market and can help you to sell your home faster so you get a better return.Contact Us and we will help you navigate the local market to get the best possible price for your home.

 

 

Average Days on Market


Days on market matter. It is the number of days a listing is active before an offer has been accepted by the seller. Many agents refer to "average days on market," which is derived by adding all the days on market of each listing and dividing by the number of listings. In a buyer's market, the DOM are generally higher because inventory takes longer to sell. In a seller's market, the DOM are fewer.  Consult with a Real Estate Agent that is an expert in the local market, they will help you set a more realistic price for your market and can help you to sell your home faster so you get a better return.Contact Us and we will help you navigate the local market to get the best possible price for your home.

 

We have also compiled more detailed stats on some of the most popular towns and cities in our area:

October Stats   September Stats   August Stats  June Stats   May Stats  April Stats   March Stats   February Stats