I appreciate your honesty. I lost my why on renting vs buying. I sold my townhome & bought a condo & maxed out. I wish I would’ve rented before buying. I made to quick of a decision & I don’t have $ to repair items now. I’m a senior on a fixed income, with not too much wiggle room.
Will you please do this type of analysis from the sellers point of view? For example, is the "competitive time" the same as when the inventory is lower? Like if someone is selling but not yet planning to buy, wouldn't low inventory (interest rates aside) be more likely to generate more competitive offers?
TL;DR - April. You are exactly correct, the competitive times are usually when inventory is the lowest and/or slowest. This creates pent up buying demand and multiple offer scenarios. Unsure if we will do a video specifically addressing this for sellers since our focus our business working with relocation buyers, but I can answer your question. Historically April is the best time to sell in RVA. Looking at the statistic of Sold Price to List Price ratio it usually peaks in May/June BUT keep in mind that the homes the CLOSE in May/June received their offer 1-1.5 months prior. It's interesting to see that it's much later than when inventory bottoms out (Dec, Jan Feb). During the winter months when inventory is at it's lowest the Sold Price to List Price ratio is lower (less above asking offers) compared to May/June. This is speculation but could be less buyers actively looking during the winter. It could also be market lag taking some time to respond to whichever way the market is trending. Thanks for watching and asking your question!
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I appreciate your honesty.
I lost my why on renting vs buying. I sold my townhome & bought a condo & maxed out. I wish I would’ve rented before buying. I made to quick of a decision & I don’t have $ to repair items now. I’m a senior on a fixed income, with not too much wiggle room.
Thank you! I am sorry to hear about your situation. Hopefully it will improve some over time.
This is awesome! And #35 out of 4500+!!!! Wow 👏👏
Thank you for this!
Thank you for watching!
Sure it a great 7 percent interest
Will you please do this type of analysis from the sellers point of view? For example, is the "competitive time" the same as when the inventory is lower? Like if someone is selling but not yet planning to buy, wouldn't low inventory (interest rates aside) be more likely to generate more competitive offers?
TL;DR - April.
You are exactly correct, the competitive times are usually when inventory is the lowest and/or slowest. This creates pent up buying demand and multiple offer scenarios. Unsure if we will do a video specifically addressing this for sellers since our focus our business working with relocation buyers, but I can answer your question. Historically April is the best time to sell in RVA. Looking at the statistic of Sold Price to List Price ratio it usually peaks in May/June BUT keep in mind that the homes the CLOSE in May/June received their offer 1-1.5 months prior. It's interesting to see that it's much later than when inventory bottoms out (Dec, Jan Feb). During the winter months when inventory is at it's lowest the Sold Price to List Price ratio is lower (less above asking offers) compared to May/June. This is speculation but could be less buyers actively looking during the winter. It could also be market lag taking some time to respond to whichever way the market is trending. Thanks for watching and asking your question!