In the spring the amazing Northern Virginia home buyer’s race began with a sprint. Buyer’s couldn’t get in the doors fast enough when a new listing came on the market. Vying for first place in the bidding war, buyers went back to waiving home inspections and appraisal contingencies to be the first on the mat to be declared the winner.
Now as fall begins buyers are taking their time and don’t seem to be in much of a hurry to get to the finish line. If you are a home seller in Fairfax County you can see the decline in new pending contracts continues on a downward trend.
Looking across other sections of the Northern Virginia are the trend is the same for Falls Church, Alexandria City and Prince William County. What does this mean for Northern Virginia home sellers? It means you may need to show a little more patience when you are putting your house on the market. Condition and price, two things you have control over in the home sale process, are key.
The fall and winter months are a great time to sell you home in Northern Virginia. There are some challenges but the buyers, though more cautious than those racing around in the spring, are out. I’ve always considered my fall clients to be among the most serious buyers I work with. They have avoided the madness of the summer by doing their research and waiting for the right house to come on the market.
If you are thinking of selling your Northern Virginia home this fall give me a call to talk about the home values in your neighborhood. As always you’ll get straight talk about the local market and whether it’s the right time for you to sell your home.