Buy Alexandria Real Estate: LOW INVENTORY ALERT: It's Time to Sell Your Home in Northern Virginia!

Alexandria Virginia Real Estate Blog

LOW INVENTORY ALERT: It's Time to Sell Your Home in Northern Virginia!

ALERT! ALERT! ALERT! Northern Virginia Housing inventory is at very low levels. A "normal" or balanced market means that there is 6 months of inventory of houses on the market. More than 6 months inventory favors buyers who have lots of homes from which to choose. Less than 6 months inventory favors sellers who can take advantage of the lack of inventory to entice the buyers to buy their home.

I see these low levels of housing supply every day, whether it's realizing that I've shown a buyer every home that meets their criteria and there's nothing left, facing multiple offers on homes for sale and the resurgence of bidding wars, or hearing from colleagues that they've received multiple offers on their brand new listings. Besides this anecdotal evidence, there are real numbers behind the inventory issue as you'll read below.

Thus, if you've been considering selling your home, or you HAVE to move, here's some advice.

Stop & SellFour steps to take now:

  1. Stop what you are doing right now. Seriously. Stop!
  2. Stop "thinking" about selling your house.
  3. Tidy up the house.
  4. Call me to help sell your home. (Call today at 703-626-0715)

Consider these numbers.

City of Alexandria:

  • 519 homes on the market
  • 817 sales in last 6 months or 136 Alexandria home sales/month
  • Currently ONLY 3.8 Months of housing inventory in Alexandria, VA

Arlington County:

  • 551 homes on the market
  • 1,002 sales in last 6 months or 167 Arlington home sales/month
  • Currently ONLY 3.3 Months of housing inventory in Arlington, VA

Fairfax County:

  • 2,667 homes on the market
  • 5,274 sales in last 6 months or 879 Fairfax County home sales/month
  • Currently ONLY 3.03 Months of housing inventory in Fairfax County, VA

Falls Church, Virginia:

  • 38 homes on the market
  • 52 sales in last 6 months or 8.67 Falls Church home sales/month
  • Currently ONLY 4.38 Months of housing inventory in Falls Church, VA

Okay, review the 4 steps above. I'll have my cell phone in hand.

Buying? Click here to search Northern Virginia homes while there are still some left!

 

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Comment balloon 5 commentsBrian Block • March 17 2011 04:06PM

Comments

Interesting with low inventory count Brian. That is so atypical nowadays for so many areas of the country. Good for the sellers for your area.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) over 7 years ago

Hey, do I know you?  Hey stranger... I am with Gary... hard to believe that you have a low inventory count. I guess this is good for you all when listing homes. Hope all is well..

jeff belonger

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) over 7 years ago

Brian we are seeing low inventory levels in many of the towns in my area as well. A good property comes on and BAM it is gone!

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) over 7 years ago

Yes, the buyers are there, and the GOOD homes are GONE!

Posted by Gretchen Conley, Howard County MD Real Estate (Long & Foster Real Estate, Inc.) over 7 years ago

Great! I hope your homes sell fast and that you get a lot of phone calls from sellers!

Posted by Rob Lang, Local Expert in Lawrence Kansas Real Estate Homes (At Home Kansas / www.AskRobLang.com) over 7 years ago

Participate