April 2019 Home Sales
Mid-Atlantic Region April 2019 home sales:
On The Belt Team, we take pride in being your local real estate “experts”! Part of that involves staying on top of market stats & trends.
• 31,222 homes went under contract in the region. This is up (9.39%) from the same time period in 2018.
• 29% of the homes that went to settlement in April 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $356,890 (up 2.58% from the same time period in 2018).
• 62,960 homes came on the market. That’s down 16.76% from April 2018.
• Homes that sold (closed) averaged 66 days on market, 4 days slower than in April of 2018.
• There is currently a 2.8 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in the Mid Atlantic Region – and 62,960 homes for sale (townhouse, condo and single family).
OVERALL: The Mid-Atlantic Region remains in a Seller’s Market. However, the trend continues to be the difference between inventory and demand in the upper-end price points (“luxury”) vs the more affordable segments (“starter & trade-up market”).
· Inventory continues to rise in the luxury and premium home markets which is causing prices to cool.
· Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis.
If you are thinking of selling, now may be the time! Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price! So, contact us NOW (703-242-3975) to make sure you are working with an agent that will provide you with the data you need to make good decisions. The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly.
Let’s take a deeper dive into the numbers of our local market areas, and see where this trend continues…
To see what the conditions are like in your community, click on the link to your desired city below!
Great Falls: April 2019 Home Sales
Falls Church: April 2019 Home Sales
