Your Real Estate Expert Serving Northern Virginia

The Local Market Provides the Best Statistics
Coldwell Banker Residential Brokerage

September 1, 2009 - The real estate market continues to be a hot topic with the national media and we are continuously presented with many national statistics on the status of the residential real estate market. In the past two months, national statistics show an increase in not only the number of buyers entering the market, but also an increase in the sale price of homes. Armed with this information, buyers and sellers are making decisions about the timing of their move and the prices at which to buy or sell.

Although we are seeing positive national trends, national statistics are rarely the best source upon which to make your local housing decisions. Local market information and trends are more reliable and are more relevant, especially when interpreted by an expert real estate professional who knows your market. Review the market data graphs provided here and allow me to assist you and offer my expertise in reviewing them and giving additional market insights.

Sellers particularly need their REALTOR® to provide this detailed information since the initial price position of their house usually determines whether they will get the highest possible amount. Since the largest pool of potential buyers exists when a property first hits the market, a price position that eliminates their consideration of the property keeps a house on the market longer. The more days a property is on the market allows buyers to make lower offers. Although a seller may believe their house is worth a certain price, the information on what buyers will pay in the current market for a house of that type is the major valid statistic upon which to make decisions.

I am always willing to provide market knowledge to you or anyone you know. Whether buying or selling, allow me to assist you in making the best decisions for your move.