Question: What market conditions do you expect through the rest of the year?
Answer: One of the best ways to use data in real estate is by studying seasonal trends to understand expected market conditions during different times of the year, to maximize the results of your sale or purchase. Market activity, specifically the volume of listings coming to market and the speed at which homes go under contract, follows a predictable pattern.
This time of year, in the DMV, we can expect a post-Labor Day pop in listing activity and an increase in the speed homes go under contract, followed by a sharp and continuous drop in both metrics, through the end of the year. Activity picks up once the calendar turns.
Expect Listing Activity to Drop Sharply Now to Year’s End
Only 18% of homes get listed for sale October-December, compared to 33.1% from March-May. The number of homes listed in the three months from March-May is almost the same amount listed in the five months from October-February.
If you have difficult criteria to meet, it might take a while to see a home for sale that works for you, especially after Halloween.
Homes Will Take Longer to Go Under Contract Through Year’s End
It isn’t just the supply side of the market that slows down in Q4, the speed at which homes go under contract will drop sharply from now through the end of the year, too.
While you may have more time to make offer decisions in Q4, don’t get too comfortable, more than 1/3 of homes go under contract within the first ten days on market and nearly 2/3 go under contract within thirty days.
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
We have access to the most pre and off-market listings across the DMV of any brokerage and are happy to share what’s available with anybody who asks.
Below are some of our team’s pre/off-market listings, details and additional listings available by request:
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Rosslyn 2BR/2BA/1,100 sqft – condo (2008) – 1800 Wilson Blvd Arlington VA 22201
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Rosslyn 2BR+den/2.5BA/2,000 sqft – condo (2021) – 1781 N Pierce St Arlington VA 22209
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Ballston – 4BR/3.5BA+office/4,000 sqft – Four Townhouses (2026/2027) – 11th St N Arlington VA 22201
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Falls Church City – 4BR/4.5BA/3,000+ sqft – End-unit townhouse (1995) – Rees Pl Falls Church VA 22046
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Rosslyn – 2BR+den/2.5BA/2,000+ sqft – Condo (2021) – 1781 N Pierce St Arlington VA 22209
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Highland Park/Overlee Knolls – 6BR/5.5BA/5,000+ sqft – Detached Single Family (2025) – 22nd Rd N Arlington VA 22205
