The #1 Reason to List Your House in Zip Codes 22911 & 22901 Now!

The #1 Reason to List Your House in Zip Codes 22911 & 22901 Now!

63 existing (does not include new construction) homes were sold in zip codes 22911 and 22901 combined, in September 2017.  Prices ranged from $55,000 for a 500+/- sq ft condo to  $1,065,000 for a 4500+/- sq ft home on 40+/- acres.  The median number of days on market was a crazy ’28’! *

Assuming the same rate of sales, there is currently less than a 3 month supply, or 186 existing homes, available.  Anything less than a 5-6 month supply is considered a Seller’s Market.

Here’s what’s happening nationally……

The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.

The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! The inventory of homes for sale has fallen year-over-year for the last 28 months and has had an upward impact on home prices.

NAR’s Chief Economist Lawrence Yun had this to say,

“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country.

Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.” (emphasis added)

The houses that are on the market are selling fast, too! According to NAR’s Realtors Confidence Index, the median number of days it took for a house to go from listed to under contract over the past three months was 34.

Bottom Line
If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market!

Source…KCM Karen Rice Blog

*Source CAAR MLS.  All information deemed reliable but not guaranteed

Charlottesville VA 22911 Subdivisions

Charlottesville VA 22911 Subdivisions (click on a link below to view available homes in the neighborhood)

If you don’t see the neighborhood you’re looking for, try my advanced home search page to search by subdivision or school district.  

Don’t hesitate to contact me if I can be of assistance.  Karen