If you’ve been thinking about selling your Metro DC home, the best time to do so is coming up!
According to Realtor.com, experts in a recent study analyze housing market trends by looking at date from the past several years (except for 2020, since it was an atypical year), and determined early April is the best time to sell your home.
“Home sellers on the fence waiting for that perfect moment to sell should start preparation, because the best time to list a home in 2022 is approaching quickly. The week of April 10-16 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.“
DC, Maryland, and Northern Virginia home sellers able to get their properties ready to list quickly for this golden time in the market should expect the following from that opportune week:
More Buyer Activity
The Realtor.com article expects higher buyer demand than in past years, which could result in higher competition among buyers and ultimately, a bidding war. And with mortgage rates ticking higher over four percent, there’s a good chance that analysis is correct as buyers flock to the market. “Buyers are rushing to lock in lower rates as the outlook is for even higher mortgage rates in the following months,” said Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR).
Your House Could Sell Quickly
The Realtor.com article also shows houses selling even faster during this opportune April week likely due to increased buyer demand. You can secure those chances of your home selling quickly by working with an expert real estate agent as homes are selling in an average of 18 days, according to NAR.
Your House Will Get Attention
The number of homes available in 2022 has been hovering at record lows. The Realtor.com study shows that this week in April will have even fewer sellers with properties on the market, so if you list now when inventory is low, your DC Metro home will have greater chances of being the center of attention for buyers.
Remember, if you’re ready to make a move, the time to jump into the real estate market as a seller is the week of April 10-16. However, even if you’re not quite ready to list in the next few weeks, the market will still be hot later this month.
Give The Estridge Group a call to discuss listing your home this spring— Let’s kick off your successful sale together!