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Looking Back on Our 2017 Market and Looking Ahead to 2018
Manage episode 196029878 series 1531698
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2017 was a great year for our market, and I see it staying hot in 2018.
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There were a total of 36,597 home sales, which was an increase of 4.3% from 2016 when only 35,089 homes sold. During that same time span, the median sales prices increased 3.5% from $430,000 to $445,000. From 2016 to 2017, the average days on market dropped from 22 days to 14 days, which is fantastic. People were putting their homes on the market and selling them rather quickly.
In 2018, I see the market staying hot for a little while. It’s still a good time to sell, and interest rates are still good. Toward the middle and end of the year, I think we’ll see a bit of a shift toward a buyer’s market.
If you have any more questions about our market moving forward, you’re curious how much your home is worth, or you’re thinking of buying a home soon, don’t hesitate to reach out to me. I’d love to help you.
The Northern Virginia market had a fantastic year in 2017.
There were a total of 36,597 home sales, which was an increase of 4.3% from 2016 when only 35,089 homes sold. During that same time span, the median sales prices increased 3.5% from $430,000 to $445,000. From 2016 to 2017, the average days on market dropped from 22 days to 14 days, which is fantastic. People were putting their homes on the market and selling them rather quickly.
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In 2017, people were putting their homes on the market and selling them rather quickly.
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In 2018, I see the market staying hot for a little while. It’s still a good time to sell, and interest rates are still good. Toward the middle and end of the year, I think we’ll see a bit of a shift toward a buyer’s market.
If you have any more questions about our market moving forward, you’re curious how much your home is worth, or you’re thinking of buying a home soon, don’t hesitate to reach out to me. I’d love to help you.
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