Stats, stats, and more stats!

L O A D I N G

You hear them all the time: median prices, daysclosed sales on market, list to sold ratio, year-to-year comparisons, and so on, and so on.  For many people, these real estate statistics can be confusing if not intimidating. However, there’s one factor that’s easy to grasp: your local realtor is best-equipped to use local market statistics to help you arrive at a list price when selling your home.

The key word here is local. Supply and demand drive markets; and in real estate, all markets are local.  Each area, town, city, region is subject to particular trends that median soldaffect the local real estate market.  And, although a rising tide lifts all boats, global factors (such as interest rates) are only a part of the overall mix behind how quickly you sell – and for how much.  In addition, an experienced realtor can go beyond the city-wide or county-wide statistics and show you what’s influencing the market in your neighborhood.

Your Hunt Country Team has the experience and training to help you understand these market stats FROM A LOCAL PERSPECTIVE in order to set the most effective selling price for your home.  And they can show you how over-pricing, even under-pricing, are likely to result in a longer time on market and a lower selling price.

What influences a sale in Arlington may or may not be a factor in Leesburg.  Average “days on market” statistics in Fairfax don’t necessarily indicate how quickly a Purcellville listing will sell.  .  Using these statistics, along with comparable recent sales in your neighborhood, the Hunt Country Team will help you determine how to maximize the return on your investment.

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So, do follow the market news but don’t let the statistics overwhelm you.  Instead, call your Hunt Country Team for a no-cost, no-obligation home valuation.  (All data samples included here are for Loudoun county from July 2016 and are based on MRIS data)

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