Aren't Interested in Bidding Wars? Check this Out
So you weren't ready to buy in the Spring market -- which started in January, by the way. But what's your advantage if you are looking at buying between mid-May and mid-August?
When you look at the sales of home activity charts, 2018 is shaping up similar to the past few years. Look at this.
These charts shouldn't surprise you. The inventory of homes on the market increases in the late Spring into Summer. It drops in the Fall, typically when homes that didn't sell are removed from the market and of course because a solid number of homes sell during our warm months. The market "absorbs" the inventory and the days on market for home increases some in the summer months.
Now look at the median sales price line in the chart on the right. Prices have increased, on average, over the past several years, but not drastically. The price paid for homes goes up and down a bit during the year, but generally is pretty flat. Both charts were prepared by the Northern Association of Realtors.
What does this mean to you as a buyer? You have more homes to look at right now and, by the way, are likely to compete less than your friends who wrote offers in March ad April. Sound encouraged? Good! Give me a call and let's make the market work in your favor. David -- 703-220-0406