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Only 1 Month of Housing Inventory Left In Vienna & Oakton

Only 1 Month of Housing Inventory Left In Vienna & Oakton

What’s happening in the Vienna & Oakton real estate markets?

Remember last week when we wrote in our Northern VA real estate blog that “Statistics show we are almost to the point where for every home listed, a home goes under contract“? Well, guess what? That time has come in Oakton and it’s still close in Vienna. We are down to just about 1 month of housing supply in both areas!

Vienna Home Buyers Absorb Inventory At Record Pace

Vienna Home Buyers Absorb Inventory At Record Pace

Vienna & Oakton homebuyers have a lot in common with paper towels, at least they do with Bounty brand paper towels.

Remember the old TV commercials? They called Bounty the “quicker picker upper”! (You can see a clip on our Northern VA Real Estate Blog.)

Well – the way Vienna & Oakton’s housing market is moving, it looks like homebuyers are definitely “quicker picker uppers”. In the past 30 days, homes went under contract at the fastest pace we’ve seen this year.

Vienna Housing Inventory Hits New Low

Vienna Housing Inventory Hits New Low

There is less than two months of housing inventory in the Vienna and Oakton real estate markets. And that’s no April Fool’s joke! It’s a SELLER”S MARKET and a new low for 2013! 

Here is the rest of this week's housing update:

In A Seller's Market, Does Your Agent Even Matter?

In A Seller's Market, Does Your Agent Even Matter?

When homes are selling as fast as they are in Northern VA, you may wonder whether it really matters who your agent is. When the market is tough, it seems Sellers seek out the top Realtors in the area. But when the market starts to come back, some Sellers are lulled into thinking it doesn’t really matter and so they list with an agent for the “wrong reasons”.

What are the “Wrong Reasons” to list with an agent and why does it matter?

Yes, Vienna, It's Still a Seller's Market

Yes, Vienna, It's Still a Seller's Market

 

Are you wondering how the real estate market is in Northern Virginia, and whether it’s a Buyer’s Market or Seller’s Market? Well, wonder no more. Inventory is low, low, low. And Buyers all over Northern VA are competing for the same homes.

The areas we get most asked about are Vienna & Oakton, so real estate stats for those areas follow. (Call 703-242-3975 or email us if you need real estate stats for Reston, Fairfax, Herndon, McLean, Falls Church, Arlington or any other area of Northern Virginia).

Real Estate Tips: The Highest Offer is NOT Always The Best Offer

Real Estate Tips: The Highest Offer is NOT Always The Best Offer

Sellers often say to us, “Of course I’d take the highest offer on my house, that’s the best one, right?”

Well, the answer is “Maybe. And maybe not.”

In today’s market, it’s not unusual for Sellers to sell above list price. In the lower price ranges, buyers are frenzily (is that a word?!) competing for homes. It reminds me of the way you see people in the grocery store the day before a snow storm, tripping over one another in the aisles, making sure they have enough milk & toilet paper. People start acting a little bit crazy when the shelves start getting empty.

Guess what, the real estate shelves are pretty bare right now. (In Vienna & Oakton for example, housing inventory is at 1.4 months). That means we’re seeing some crazy things.

6 Secrets To Surviving A Home Renovation

6 Secrets To Surviving A Home Renovation

I recently wrote a post called “Love It Or List It” and gave you a peek at the home renovation we did last year. I am thrilled with how it came out. But it wasn’t always a walk in the park (just ask my dog Cody!). So today I’m going to share my “6 Secrets To Surviving A Home Renovation”.