Homes are selling quickly in Northern Va with an average days on market of 35. This is an improvement over the 5 year June average of 37 days as you can see in the gauge below. The primary reason for this improvement is the continued challenge of a low inventory of available homes for sale in Northern VA. Keep in mind these are averages, and as I recently reported, premium and Luxury home sales are seeing too much inventory. Here is that article.

Nationwide homes are selling quickly as well. The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report, which revealed that homes were on the market for an average of 28 days in June.

54% of homes across the country were on the market for less than a month in June!

Among the 27 states with homes selling in 30 days or less are Washington, Utah, California, and Colorado. The map below was created using results from NAR’s Monthly Realtors Confidence Index Survey.

Bottom Line

Buyer demand is increasing as the inventory of homes available for sale remains low in the starter and trade up home price range. Thinking about listing your home for sale this year? Let’s meet up so I can help you take advantage of the low inventory in Northern VA!