But we just started Winter, right? If you are looking to sell, and want conditions to favor you, then we suggest shifting your calendar expectations. When we hear reports of the market being hot or cold, those reports are typically delayed a bit. Why? Real estate sales don’t happen until the sale is final, meaning settlement is complete. That means two things:
- The news media will tell us how great the market is after sales are complete and this data is recorded. You will hear it on the radio, read it in the newspaper, and possibly see on the local news how the market is heating up. However, conditions at the time of the report may be different than when the sales were initiated.
- Contracts are where the deals are made. The conditions of the market set the price and terms, and when supply and demand matters. This all happens when a contract is negotiated. In Northern Virginia Real Estate a typical timeline from getting a contract until settlement is somewhere between 30-45 days. So that means when Fairfax County recorded a high month of of 1,963 settlements in June of 2017, the activity that led to that happened in April and May of the same year.
See the chart below for a month to month chart on closed sales in Fairfax County for 2017.
In fact, the high 3 months for New Pending Contracts in Fairfax County for 2017 were March, April, and May (see chart below).
Good news! There is still time to talk to Jason & Bonnie, get a staging consultation, declutter, do any painting or prep work, have your property professionally photographed (all in that order) and still get on the market for the high tide. Did you know we include all of this for 4.5% and get amazing results?
Does your family need to upgrade to your dream home? Are you relocating from the area?