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Is the 2014 Housing Market Passing You By? Taking Its Temperature

House temperature-shuttrerstock_172941716Following the Housing Market and trying to figure out what’s happening in your area?  You want to put your house on the market and downsize or buy a bigger house in McLean, VA, or a nearby community, but you want to wait until you can get a little bit more money out of your present home?

Worried if you put it on the market and it doesn’t sell, your house will become stale and agents won’t show it because they will think you have unwanted critters in there?  Of course, all of your concerns are valid, and we can help you figure out the best timing to put your house on the market for your particular needs.

As an example, here’s the outlook for zip code 22102, McLean on the side of Rt 123 towards Great Falls, and the outlook is good.

According to Real Estate Business Intelligence:

  • Existing-home sales in 22102 are expected to retain the steady gains seen in 2013, while prices are expected to stay on an uptrend this year.
  • May total sales in 22102 dropped by 12%, compared to May 2013, because of fewer units sold.
  • The median price of homes sold in 22102 rose by 8.37% in May, compared with May 2013.
  • The average days on market (DOM) for homes in May 2014 was 30 days, a decrease of 66%, compared to May 2013.
  • Low mortgage rates continued to boost sales in 2014.
  • Unemployment in Fairfax County is 4.1%.
  • Low inventory is likely to continue, an advantage for sellers.

For the outlook in McLean or nearby communities, call us at 703.628.9360.

 

About The Author

Mafalda Marrocco

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