Is Now a Good Time to Sell
Your Virginia House?

If you’re a homeowner in Virginia contemplating the sale of your property, you might be
wondering,“Is now a good time to sell your Virginia house?” Several factors come into play when
making this decision, including the time of year, the current state of the housing market,
mortgage rates, and your personal circumstances.
Key Takeaways:
Optimal Timing for Selling: Late spring and early summer are traditionally considered favorable times to sell a house in Virginia, as indicated by [Bankrate (https://www.bankrate.com/real- estate/should-i-sell-my-house-now-or-wait/). These seasons typically offer low mortgage rates and a short supply of homes, creating a conducive environment for sellers.

Virginia Housing Market Overview: The current state of the Virginia housing market reveals an 8.0% increase in home prices in November 2023 compared to the previous year. However, a 10.4% decrease in the number of homes sold suggests a potential shortage, making it a seller’s market
with a 1-month supply.

Consideration of Personal Circumstances: Apart from market conditions, personal circumstances play a crucial role in deciding whether to sell a Virginia house. Homeowners should weigh factors such as job relocations, family changes,changes, and individual timelines when making the decision, as mentioned in the article.

Timing is Key
Late spring and early summer are traditionally considered optimal times to sell a house. According to Your Home Sold Guaranteed Realty – Carlos Pichardo Team, these seasons, low mortgage rates and a short supply of homes contribute to a favorable selling environment. However, the question remains: Is the current moment the right time for Virginia homeowners to put their houses on the market?
Virginia Housing Market Overview
In November 2023, home prices in Virginia saw an 8.0% increase compared to the previous year,
according to Houzeo. Despite this positive trend, the number of homes sold decreased by 10.4%
year over year. This could be attributed to a shortage of available properties, making Virginia a
seller’s market with only a 1-month supply.

Real estate experts also predict a continued housing shortage in 2024, anticipating high buyer
demand that may drive home prices even higher. The expectation is for mortgage rates to
eventually settle around 6% to 7% in the spring of 2024, making this period potentially
advantageous for sellers.

Personal Circumstances Matter
Apart from market conditions, your personal circumstances should also influence your decision. If you have pressing reasons to sell, such as a job relocation, change in family size, or a desire for a different location, these factors may outweigh market trends. On the other hand, if you can afford to wait for a more favorable market, it might be worth considering.
Mortgage Rates Impact
One crucial element to consider is the current state of mortgage rates. With rates higher, as mentioned by Bankrate, potential buyers may be deterred, leading to fewer offers. If you’re motivated to sell quickly, the current scenario might be opportune. However, if you can afford to wait for potential rate fluctuations, it’s worth keeping an eye on market trends.
Final Thoughts: Is Now a Good Time to Sell Your
Virginia House?
The decision to sell your Virginia house depends on a combination of market conditions, personal
circumstances, and your individual timeline. It’s advisable to weigh these factors carefully and, if
needed, consult with a local real estate professional to make an informed decision that aligns with
your goals.
Call Carlos Pichardo To Sell Your House Fast and For
Top Dollar!
If you want to sell your house in Fairfax fast and
maximize your profits at the same time, work with
Carlos Pichardo and our real estate experts at Your
Home Sold Guaranteed Realty – Carlos Pichardo Team.
We’ve been working with home sellers in Fairfax and all
parts of Northern Virginia for many years.

We’re deeply familiar with the local housing market
and have developed effective marketing strategies toreach
pre-qualified buyers.

Our marketing strategies are so effective that we
continually outperform our competitors. On average,
we sell homes 18% faster than our competitors, and for
4.49% more profit.

On top of that, we offer unique seller guarantees, such
as our Guaranteed Sale Program. To learn more about working with us to sell your home, call (571) 556-8431 or send a message toinfo@yourhomesoldguaranteedrealtyassociates.com. You can also fill out the form on this page.

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!

Posted in Blog, Sellers Guide

Why is No One Viewing My Fairfax
House?

How Do You Find the Sale Price of Your Home in Virginia? 

Phone Preference

Carlos Pichardo Broker/Owner
Click to Call Now!