Weekly Market Update – Homes Selling Faster


Here is what MRIS reports for our region today:

“The first-time home buyer tax credit continues to push heavy autumn sales in the MRIS region.

For the week ending October 17 there were 2,630 pending sales, up 75.3 percent from the 1,500 sales seen during the same week in 2008.

Over the last three months there have been 8,672 more signed purchase agreements than there were during the same period last year.

New listings are a different story, with 4,314 fewer during the last three months compared to last year.

Good news for sellers: it’s taking less time to sell homes than it did a year ago, and the final sales price is typically closer to the original asking price than it was a year ago.

When you are ready to buy or sell a home, make sure you contact The Belt Team for a specific analysis of the neighborhood you live in or the neighborhood you want to move to.

The Belt Team . . . Serving all of your real estate needs in Vienna, Oakton, McLean, Great Falls, Arlington, Reston, Fairfax and the entire Northern Virginia Region! Contact us today for a FREE home valuation or buyer counseling session!

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