Northern VA Spring Real Estate Market is Here. Are You Ready?

Which month do you think potential home buyers actually start their home search?

If you’re like most, you probably think the surge happens in the spring, likely in April, which makes logical sense.  But not anymore. According to new research by News Corp., January 2019 was only 1% behind February for the most monthly views per listing on realtor.com.

So, what does that mean? The Northern VA spring real estate market has begun and potential home buyers are out shopping now.

The research article goes on to indicates,

“Historically, April launched the kickoff of the home shopping season as buyers would come out of their winter hibernation looking for their new home. However, the spring shopping season now starts in January for many of the nation’s largest markets.”

Winter has fewer homes on the market, but the supply of new listings naturally increases as we head to the spring market. However; waiting for more competition to list in your neighborhood this year might put you behind the potential buyers who are buying now. Perhaps now is the time to jump into the real estate market.

George Ratiu, Senior Economist at realtor.com says,

“As shoppers modify their strategies for navigating a housing market that has become more competitive due to rising prices and low inventory, the search for a home is beginning earlier and earlier.”

There is a lot of opinions and expert speculation about why Northern VA buyers home search is shifting to an earlier start. What I do know is if you’re thinking about buying or selling a home this year in Northern VA, the earlier you get started, the better.

Bottom Line

The new spring real estate market in Northern VA is underway now. If you’re considering buying or selling, let’s connect, so you have the advantage in this competitive market.