by Jillian Keck Hogan
It’s the kick off of the Fall Real Estate season, which runs September through the end of December, and we believe we know what is in store for you in the coming months…
Throughout the month of August, I have been asked by my agent colleagues across different brokerages “What do you think? List now (in August) or should we wait until after Labor Day when everyone is back from vacation and settled back in school?” My continued response was, “List now”. Why? Serious buyers are still looking at listings while on vacation (I mean, who isn’t out there stalking Zillow on the regular?) And honestly, you want to list when the market supply is low.
You know what I haven’t been asked this August? Whether or not buyers are better off waiting until after Labor Day to purchase…
This tells me our micro-market around the DMV has good potential to see a significant number of listings coming on in the Fall Market (significant compared to average July/August inventory levels not an pandemic-level onslaught).
The demand level from buyers is not going to see the same increase in numbers. So all of you potential buyers, be ready to jump back in! Call your Realtor to have them on the lookout for your dream home, call your lender (or have your Realtor refer you) to find the price point that works for you, and start attending Open Houses and showings with your agent. Knowledge is power.
This is going to be your time to shine before the buyer demand picks back up in the infamous Spring Market. And sellers, look back at the days on market and contract numbers of more normal times of 2018/2019 (the Amazon boom era). Those are the statistics we are projecting to see this Fall with the home prices still sitting where the pandemic market has brought us. You want to make sure your Realtor knows how to plan for and execute with pre-pandemic market trends and contract negotiations.
Still have questions? You can always email/text/call us. But we do have an even more fun way to pick our brains that is coming up in October. Come relax, enjoy some wine, and ask all your burning questions at our Fall Talk & Taste. This is seriously one of our favorite events of the year. Giving our friends the freedom to ask us anything about the market/real estate process, and make you more confident in your personal decision to buy, sell or rent, brings us true joy!
Every month Jillian Keck Hogan shares local real estate insight, advice, and more. To learn more about Jillian and her team, visit jilliankeckhogan.com and follow her real estate group on Instagram @jkhogangroup_realtors. Equal Housing Opportunity.
