Here's Why It's Still a Sellers' Market

Even with the market shift, check out why it is still a sellers’ market.

Some Highlights

• While buyer demand has moderated and housing supply has grown in recent months, it’s still a sellers’ market because inventory is low. Here in Northern Virginia (Fairfax County, Falls Church, Fairfax City, Arlington, and Alexandria) , our months of housing inventory is 1.23 months which is a 7.9% increase year over year (July 2022 vs July 2021). Even with that increase experts don’t consider us to be in a neutral market, neither favoring buyers or sellers, until we reach at least 6 to 7 months of housing inventory.
• The latest data shows sellers continue to benefit from serious buyers and competitive offers. In July, the average home received 2.8 offers and 39% sold over the asking price.
• You haven’t missed your opportunity to sell. Let’s connect to start the process today.