We may be seeing green for St. Patrick’s Day, but our local real estate market is red hot!
Thinking of buying a home? Search the local MLS here.
Thinking of selling your home? Get a home valuation here.
Want to see our inventory of homes? View our listings here.
In honor of St. Patrick’s day, Amy and I decided to combine forces and become the O’Rougherty team for today’s market update.
It’s a strong market out there in the Fairfax County real estate market.
Active inventory is down 24% from last year and monthly supply is also down to about 2.5 months. This is a decrease of about 20% since last year.
Active inventory is also down in Western Fairfax, having decreased by 38% since last year. There are only 1.2 months of supply right now in the Western Fairfax market. This is a decrease of 40% since last year.
"Low inventory has been causing strong demand in our local market, which means now is a great time to list your home."
This low inventory has been causing strong demand in our local market, meaning multiple offer situations have become increasingly common. Buyers are making cash offers and offers that are well over list price, and many are also waiving contingencies.
In other words, now is a great time to list your home. But if you’re a buyer, don’t give up. Just make sure that you put your best foot forward.
If you have any other questions or would like more information, feel free to give us a call, send us an email, or visit our website: www.getkeyedup.com. We'd be happy to help.