LIST YOUR HOME FOR SALE BETWEEN THE BEGINNING OF MARCH MADNESS AND THE MASTERS GOLF TOURNAMENT IN THE D.C. MARKET: ZILLOW MAY PROVE CORRECT THIS YEAR.

 

During the past few months, listings in the area have dried up considerably, and the current market is one identified with more willing buyers than desirable properties available for sale. In other words, despite relatively light transaction volume overall, the pressure is coming from the buyer side of the equation, not the seller side.

As the weather warms up, and we approach the traditional D.C. area “spring market”, potential sellers are beginning to inquire about the proper time to sell.

In Chapter 12 of the book “Zillow Talk”, by Spencer Rascoff (CEO, Zillow) and Stan Humphries (Chief Economist, Zillow) the Zillow executives go into great detail analyzing their deep data base to study this question. Although each market is different, and the economic conditions vary from year-to-year, the overall data suggests that to both sell fast and make more money, sellers should, “Put your home on the market after you fill out your NCAA March Madness basketball brackets, but before someone slips on an ivy-green jacket at the Masters Golf Tournament at Augusta National.” 

What they are saying is that according to the data, the best time to list in this March-early April time frame. This is often the time when buyers begin to surface in a serious manner, and not too many listings have hit the market. So rather than wait for the traditional barrage of listings in April and May, get slightly ahead of the curve. To list any sooner risks have the home accumulate days on the market, but getting March exposure is likely to be the most advantageous from a supply/demand perspective.

From my intuitive and empirical observation of conditions in the Reston market today, and the markets in most of the D.C. area as well, the dynamics described above are in place.

I welcome a call from you to discuss this in detail. If you are thinking of listing your home for sale in the near future, I specialize in helping sellers reach logical economic decisions in how and when to list their home for maximum sales price in minimal time on the market.

 

5-star service and expertise

 

Ray Wedell, Zillow Premier Agent

Realtor, Samson Properties

Chartered Financial Analyst, CFA

703-855-7299

Ray.Wedell@gmail.com

www.RayWedell.com

 

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