The average home in this metro was for sale longer this July than in 2017, and there were more homes available than in years past.
According to Redfin data, Washington's typical home was on the market 19 days longer in July of this year, and 22 percent fewer homes listed were sold in two weeks or less. The Washington Post adds that inventory, rising since 2016, grew by nine percent this summer relative to last year. Consequently, buyers have more flexibility and don't have the same frenzied competition as in peak buying seasons of the past few years.
While conditions are still competitive, the market has slowed and your home may take longer to sell than it might have a few years ago. Pricing conservatively is the best way to drive interest and offers in your home. We’ve noticed buyers are becoming a bit more demanding and particular when it comes to inspection items and repairs. If your home needs any repairs, it’s best to get those items taken care of before you list for sale, so you can control who does the repairs and manage those costs.
