Since the onset of the pandemic, bidding wars - in particular for single family homes and townhomes in the suburbs adjacent to Washington, DC - have marked a strong seller’s market. When a new listing comes on the market that is properly priced and prepared, expect that many buyers will consider it their perfect home. Understanding the rate at which the market is moving will help sellers best position themselves for success right out of the gate, and will help buyers be better prepared to submit a winning offer when it matters most. 

Let's take a deep dive into local market data to understand available inventory levels and the pace of the market.  One of the measurements frequently used to gauge the volatility of a given real estate market is the absorption rate, which can be measured it in “Months of Inventory:”

• A housing segment with less than 3 months of inventory reflects a seller’s market;
• A housing segment with 3-6 months of inventory is considered a balanced market;  
• A housing segment with 6 or more months of inventory is a buyer’s market.  

With these guidelines in mind, let’s look at the effective inventory rate for Arlington and Fairfax - nearby suburban areas with a good mix of residential housing - for the month of January 2022 (Data source:  Bright MLS).

As the numbers above indicate, most housing segments are currently in a very strong seller’s market (primary exceptions - single family homes priced above $2 million and condos priced above $1 Million).

Sellers:  stay tuned to our blog, or reach out to us, to learn more tips and strategies for capitalizing on the robust seller's market. 

Buyers: stay tuned to our blog, or reach out to us, for tips and strategies on presenting a winning offer when you find the right home.