We are frequently asked by would-be sellers whether this a good time to sell a home. Our market has certainly been directly impacted by the effects of quarantine and Covid-19, and for good reason. However, the market in the Greater DMV region is demonstrating that there is still more buying pressure than available homes for sale. So while the number of homes sales is lower this year, the showing activity for homes listed for sale and subsequent sales activity is impressive.
This chart, provided by ShowingTime and BrightMLS, shows the data for average weekly showings of homes year-over-year for 2019 and 2020. You can see that we had a dramatic dip in showings during the peak of quarantine, but 2020 results are now outpacing last year’s data.
Sellers who are priced appropriately and well-prepared for the market doing very well. We are even witnessing competitive bids and some sellers getting more than their asking price in certain situations. Believe it or not, now may be a better time than ever to sell a home. Many would-be buyers have decided to make a change in their residence or geography due to their recent experiences and they are anxious to capture historically low interest rates.
If you are contemplating a sale, please contact the Maury Home Team for a no-obligation consultation about the state of the real estate market, your potential home value, and our recommendations or a successful sale during these unusual times. We create a custom home selling plan for each home and clients’ needs. We would be honored to help you. Please contact us anytime.