Spring is nearly here! Now is the time to look at how the market has shaped up so far this year, and to prognosticate on what the spring and summer months will bring.
First we turn our attention to homes that have gone under contract in the Poolesville area. These are the harbingers of the SOLDs in 30-60 days.
We went back two years to see past the seasonal variation in area sales. It’s very clear that the number of homes that have gone under contract in the winter months is up since last year, and tops 2011 as well. This means we can expect a strong early spring in home sales.
Now let’s look at the sold properties in the area.
Homes sold are trending up, as well. This shows that inventory is moving more quickly, so let’s look at supply and demand together to see what the price pressure is likely to be.
Supply (number of homes on the market) is down and has been trending that way for a while. Demand (homes sold) has increased in the area. We currently have 34 homes on the market, and in February 7 homes sold.
That’s a 4.8 month supply of homes on the market in the Poolesville area, on the low end of a balanced market.
Based on these numbers, we are predicting a very active spring market, with some price appreciation possible in more sought-after areas.
Thinking of selling? We’d be happy to learn about your home and present you with a custom marketing plan to help you maximize your return in this changing market.
Here’s to an active and exciting spring for you and your family!
P.S. This and other Poolesville area information can be found at www.HomesInPoolesville.com
(First published on Active Rain 3/18/13)
Laura Kittleman is the owner of The Kittleman Group of Keller Williams Select Realtors. She can be reached at 301-785-5889 or [email protected]
*The Poolesville area includes Poolesville, Barnesville, Beallsville, and Dickerson ZIP codes.