Hi there, it’s Peggy Yee with Frankly Realtors here with your May 2018 Market Report.
Hope you guys are enjoying the wonderful weather! The market is definitely busy with home sales up about 6.6% from the previous month. We’ve also got pending sales (so properties that are under contract, but not closed yet) up 15%. The numbers are still rising, but not as fast as last month. The median days on market dropped from 13 days to 8 days, still indicating that homes are flying off the market the minute they go live. For sellers, this continues to be a great time to sell your home. In my experience I’m seeing home sell for higher than they should be based on comps. For buyers, I’m looking for off market properties to see if we can get a jump on a house before anyone else knows about it or looking at homes that have been on the market for at least 2 weeks, if not more.
For a more detailed analysis of what is going on in your area of DC or Maryland, please check out my neighborhood specific market reports. And if you are looking to sell your home, please contact me to discuss what’s happening in your neighborhood and how my team can get top dollar for you place. Feel free to call me anytime at 703-349-0143 or email me at Peggy@PeggyYee.com.
Selling your home? Get a complimentary home value report: http://www.DiscoverTysonsCorner.com
Buying a home? Search the local MLS and get off market property info: http://www.DiscoverTysonsCorner.com
Peggy Yee is a local Northern Virginia real estate broker with Frankly Realtors.
Licensed in VA