Report for November Real Estate Sales Shows Continued Improvement in Virginia Housing Market

A report from the Virginia Association of Realtors shows continued recovery for the state in the housing industry. While November is generally considered part of the slow season in real estate, sales were up from the same month in 2014. Sales of 6,871 were recorded for November, which is an increase of 3.32% from a year ago. These numbers look good to Mike Putnam, real estate agent based in Northern Virginia, especially for sellers who don’t want to wait until spring to list their homes.

Experts in the housing industry say a low inventory of homes on the market is one reason for the increased numbers. Another contributing factor is the expected interest rate increase, which will reduce the affordability for many buyers.

You have to do your research to find an agent who will work hard and has the knowledge to help you sell your home fast and for the best price

Michael Putnam

Real Estate Agent

Other numbers with positive results in the report include the median sales price, which was up from $250,000 to $251,000 and the drop in average days on the market, which went down from 80 to 78 days.

The figures are good news for sellers who may have been hesitating to put their homes on the market. Data compiled by the Real Estate Business Intelligence shows that Northern Virginia medial sales prices have been increasing with the biggest jumps in Arlington County at 5.75% and Alexandria at 5.24%.

Even with the positive figures showing continued improvement in the housing industry, Mike Putnam stresses the importance of sellers finding the right real estate agent to sell their homes. “You have to do your research to find an agent who will work hard and has the knowledge to help you sell your home fast and for the best price,” he says. Mike Putnam provides tips on how to select the right person for the job in his blog post, How to Find a Realtor to Sell Your Home.

While asking family and friends for recommendations on a realtor is one of the top ways people find their agent, Putnam advises homeowners to do more. They should find out what experience they have in the industry, including whether they are a licensed REALTOR or a real estate agent. Sellers should ask how they market homes and how successful their techniques are.

Sellers should take the time to interview an agent before hiring them. Ask them tough questions to find out how they achieve results and how well they communicate with sellers. Real estate agents should be able to provide advice to homeowners on how they can help their homes sell better and sit on the market for less time. The agent should be knowledgeable about the neighborhood as well as the region in general and have experience in selling the specific type of home.

Putnam recommends interviewing and researching more than one agent to find the person best suited for the job. Selling a home is one of the biggest decisions a person can make, and they need to find someone they can establish a positive relationship with for that endeavor.

Sources:
http://www.dailyprogress.com/news/business/cbj/november-real-estate-sales-increase-underscores-housing-recovery/article_b78f7382-b008-11e5-bd28-7baf10a756a1.html

https://www.washingtonpost.com/news/where-we-live/wp/2015/12/30/northern-virginias-real-estate-market-grew-in-2015-but-not-as-much-as-two-previous-years/

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About Mike Putnam Realty

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Mike Putnam Realty helps you buy and sell your home in Northern Virginia for maximum value. He's helped hundreds of homeowners and families successfully buy and sell their property while providing excellent customer service throughout the process.

Mike Putnam Realty
12700 Fair Lakes Cir (120)
Fairfax, VA 22033
United States