A Look Back at the Summer Real Estate Market and What's Coming Up This Fall

The housing market is like a living, breathing entity—it's always changing.  As we wave goodbye to the summer and welcome the beautiful fall season,  it's a great time to look back at how homes were bought and sold in Arlington, VA. It's also a good moment to think about what might happen when the leaves start to fall. It's been a wild ride this summer, and here at Varity Homes, Geva, Jane, and the team have been right in the thick of it. So, grab a cup of coffee, sit back, and let's dive into the ins and outs of the Arlington real estate scene.

The Summer Real Estate Market in Arlington, VA

This summer, the Arlington real estate market was hotter than a July heatwave. Homes were flying off the market faster than ice creams melting in the sun. With a strong job market, fantastic schools, and a great quality of life, it's no wonder everyone wants a piece of Arlington. It's like the perfect summer BBQ - everyone wants to be there! Home prices in Arlington have seen a significant jump compared to last year. They've gone up by 21.5%, which is a big deal. This means if you're thinking of selling, now might be a good time because people are willing to pay more for homes here.

Geva and Jane have been working their magic, helping our clients navigate this bustling market. From finding hidden gems for buyers to crafting killer strategies for sellers, they've been there every step of the way. It's like having your own personal real estate superheroes!

Supply and Demand
The number of homes sold this July was 191, which is fewer than the 251 homes sold last year. But it's not just that fewer homes are being sold; there are also fewer homes available to buy. This makes the market very competitive, almost like a race to find the best home.

Speed of Sale
Homes in Arlington are being snapped up pretty quickly, selling on average in just 30 days. This is a bit faster than last year and shows that people are eager to buy. If you're a seller, this is good news because you won't have to wait long to close the deal.

Factors Influencing the Summer Market

A bunch of factors stirred up the summer market in Arlington. Remote work policies meant more folks were eyeing up suburban spots like Arlington. Plus, those super low mortgage rates? They were like a magnet for buyers. It was like a perfect storm, bringing together all the elements for a red-hot real estate market.

But, as Virginia Business reported, there just weren't enough homes to go around. This led to a bit of a buying frenzy, with homes often getting snapped up as soon as they hit the market. It was like a game of musical chairs, with buyers racing to claim their spot.

But fear not! Geva and Jane used their insider knowledge and extensive network to help our clients find and secure their dream homes, even in this competitive market. It's like having a secret weapon in the real estate game.

What Could Happen This Fall

Market Predictions
The housing market is expected to stay busy, especially because there aren't many homes available. This lack of supply could mean that home prices will continue to rise. So, if you're thinking of buying, you might want to make your move soon. On the flip side, if you're planning to sell, the rising prices could work in your favor.

Tips for Buyers and Sellers
If you're looking to buy, consider getting pre-approved for a mortgage. This will show sellers that you're serious and could give you an edge in this competitive market. For sellers, consider staging your home to make it more appealing. A well-staged home can often sell faster and for a higher price.

Fall Seasonal Trends
As the leaves begin to change, so does the real estate market. Fall is often considered a second spring in real estate, with a surge in activity after the summer slowdown. Families aim to settle into new homes before the holidays, and sellers are keen to close deals before the year ends. This seasonal trend could add an extra layer of competition to the already bustling Arlington market.

Wrapping Up

Understanding the housing market in Arlington is crucial for making smart decisions, whether you're a buyer or a seller. With home prices on the rise and homes selling quickly, being well-informed can give you an advantage. It's a market that rewards those who are prepared and act quickly.

Here at Varity Homes, Geva, Jane, and the team are all about providing top-notch service and expert guidance. We're like your personal real estate navigators, helping you chart a course through the Arlington market. Whether you're looking to buy or sell a home in Arlington, VA, we're here to help you navigate the market with confidence and a smile.

Your Next Steps

Feeling a bit overwhelmed by the bustling Arlington housing market? Don't worry—you're not alone, and you don't have to go it alone. At Varity Homes, we're not just experts; we're your personal guides on this exciting real estate journey. Why settle for a one-size-fits-all approach when you can have a tailored experience that meets your unique needs? Contact  Varity Homes today, and let Geva and Jane, our trusted real estate experts, transform your home aspirations into your very own slice of Arlington paradise.

Just a quick note - while we love sharing our insights, this article shouldn't replace professional real estate advice. Always have a chat with a real estate professional before making any major decisions. And remember, at Varity Homes, we're always here to help!