"How Quickly Will My Home Sell?" -- now that's a question that's on the mind of everyone that decides to sell their home. There's no easy answer as it certainly depends on a number of factors, among which are:
- Location -- since we're talking real estate, that's obvious. A home in Arlington within easy commuting distance of Washington D.C. will almost always sell quicker than a home in the boondocks (not sure we even have boondocks in Northern Virginia, but you know what I mean).
- Price -- every house will eventually sell... for the right price. You'll be able to find a buyer for even the ugliest house in the worst location if the price is right! Price it wrong and you'll be waiting a long time to sell your home.
- Condition -- well-maintained, well-staged, clean, pretty homes tend to sell much faster than houses infested with cockroaches that smell like cat pee. It's a no-brainer. Put yourself in the shoes of a buyer for a moment.
Let's explore the first factor, "Location" a bit further for here in Northern Virginia.
Here's a chart I put together showing the average days on the market for homes that sold in September 2011 based on their location:
What's even more interesting is when you break it down by specific areas within a county or city. For example, Fairfax County is one big area and the real estate market in Annandale is different from that in Springfield which is different from McLean.
Here's a heat-map which shows the days on market for Fairfax County in September 2011:
If you'd like to see the statistics for your area, send me an e-mail or give me a call and I'll be happy to break it down for you by zip code or even subdivision. This is useful stuff when you're thinking about selling your Northern Virginia home.
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