Best Month to Sell a House in Virginia
If yous're thinking of selling your Virginia home in 2020, hither are the best (and worst) times of year to do it, by the numbers.
When selling a home in Virginia, timing isn't everything; however, it can certainly influence how long information technology takes and the price you're ultimately able to get.
If you have some flexibility with your sale, it's worth doing some market enquiry to boost your chances of getting the all-time outcome possible.
In terms of price, the all-time month to sell a house in Virginia is June. The median sale price for Virginia homes in June is $371,000, which is $xx,667 more than than the annual average.
The best month to sell a business firm fast in Virginia is May. Virginia homes sold in May are on the market for an average of 26, which is 12 days faster than the annual boilerplate.
Of course, this is only a small piece of the overall pic. Below, nosotros've compiled some of the near important information to consider earlier deciding when to sell your Virginia home, including monthly inventory, sale prices, auction-to-list ratios, days on market, and more.
JUMP TO SECTION
- The best time of year to sell a house in Virginia
- Virginia real estate market trends
- Median sale cost by month
- Median sale-to-list ratio by calendar month
- Median days on market (DOM) by month
- When should you sell your Virginia home?
- Top ways to sell your firm in Virginia
The best time of yr to sell a firm in Virginia
Determining the "right" time to sell your house is somewhat subjective, equally it actually depends on your specific goals and circumstances. That said, if you're similar most sellers — i.e., your top priorities are selling loftier and fast — here's when y'all should list your Virginia house.
| Best calendar month for: | Month | Typical sale price premium | Days sold faster than average |
| Cost | June | $20,667 | 11 days |
| Speed | May | $15,667 | 12 days |
Source: Redfin Data Middle, Jan-Dec 2019
Chiefly, these trends tin can vary from region to region. The tabular array below shows the most lucrative months to sell for iv major cities in Virginia.
| Metropolis | All-time month to sell | Typical auction price premium | Days sold faster than boilerplate |
| Virginia Beach | June | $12,333 | xiii.46 |
| Richmond | June | $25,833 | 9.00 |
| Norfolk | June | $16,792 | 9.17 |
| Arlington | July | $72,167 | seven.33 |
Source: Redfin Information Eye, Jan-December 2018
Virginia real manor market place trends
Zooming back out to the national level, housing market place action — that is, the number of active listings and sales — is cyclical, peaking in late leap and striking its annual depression towards the end of the twelvemonth.
Agile listings and volume of home sales since 2016
Source: Realtor.com, Jul 2016-February 2020
Every bit yous can run into above, the overall volume of pending sales — which is a adept gauge of buyer demand — reliably spikes in May. And so is listing in late spring ever going to be the best move? Non necessarily.
That corresponding spike in inventory (number of agile listings) as well means more competition. Depending on factors similar your property'southward historic period, status, location, etc., this could actually make it more difficult and/or expensive to sell.
Moreover, these trends vary considerably on state, regional, and local levels. To provide a more comprehensive pic of seasonal housing market place trends in Virginia, we've compiled some of the most important data points below, along with some simple definitions and communication.
Median sale price in Virginia by calendar month
| Month with highest median sale price | Median auction cost | Premium over annual average |
| June | $371,000 | $20,667 |
Source: Redfin Information Heart, Jan 2019-December 2019
Median auction prices tin aid you sympathise when abode auction prices for Virginia homes are typically at their annual high and low. When you zoom out and wait at median sale prices over the course of a larger span of time — say, several years — it can also signal broader trends, like home value appreciation and increasing buyer demand. The graph below shows median auction price trends in Virginia during 2019.
| Calendar month | Median sale price in Virginia |
| Jan | $328,000 |
| February | $325,000 |
| March | $344,000 |
| April | $370,000 |
| May | $366,000 |
| June | $371,000 |
| July | $363,000 |
| Baronial | $357,000 |
| September | $343,000 |
| October | $347,000 |
| November | $339,000 |
| December | $351,000 |
| Almanac average sale price in Virginia | $350,333 |
Source: Redfin Data Eye, Jan 2019-December 2019
Median sale-to-list ratio by in Virginia calendar month
| Calendar month with highest sale-to-list ratio | Sale-to-list ratio | Boilerplate annual sale-to-list ratio |
| May | 99.xl% | 98.98% |
Source: Redfin Data Eye, January 2019-Dec 2019
>> MORE: Strike quick on a hot market with a faster way to sell your domicile for summit dollar.
Auction-to-list ratio is a home's last sale price divided past its listing price, typically expressed as a pct. If the number is above
100%, that means the domicile sold for more than than its initial list price. Conversely, numbers below 100% hateful the domicile sold for less than request price.
When yous look at the median sale-to-list ratio across a given market, it helps illustrate the degree of competition or demand among buyers in that surface area. This tin tell you a lot about electric current market weather — i.e., whether information technology'south a buyers or sellers marketplace — and requite you a sense of how much leverage y'all'll have when it comes to offers and negotiations.
| Month | Median sale-to-list ratio in Virginia |
| January | 98.xxx% |
| February | 98.50% |
| March | 99.10% |
| April | 99.20% |
| May | 99.40% |
| June | 99.40% |
| July | 99.20% |
| Baronial | 99.twenty% |
| September | 98.90% |
| October | 98.90% |
| November | 98.80% |
| December | 98.ninety% |
| Average almanac sale-to-list ratio in Virginia | 98.98% |
Source: Redfin Data Center, Jan 2019-Dec 2019
Median days on market (DOM) in Virginia past month
| Fastest month to sell in Virginia | Median DOM | Days sold faster than average |
| May | 26 days | 12 days |
Source: Redfin Data Center, Jan 2019-Dec 2019
Days on market — or DOM — is commonly defined every bit the number of days from when a property is officially listed on a multiple listing service (MLS) and a sales contract is signed.
When a market has a low median DOM, that's normally an indicator of favorable weather for sellers, i.eastward., a high demand among buyers. Conversely, a higher median DOM signifies depression demand, meaning less favorable weather for sellers. Remember, seasonality can be a big factor, particularly in regions with bigger weather condition swings throughout the yr. Moreover, demand can vary considerably from neighborhood to neighborhood. Talk to your realtor for an accurate read on current — or seasonal — market conditions in your expanse, specifically.
| Month | Median days on market in Virginia |
| January | 60 days |
| February | 53 days |
| March | 39 days |
| April | 29 days |
| May | 26 days |
| June | 27 days |
| July | xxx days |
| August | 33 days |
| September | 36 days |
| October | 37 days |
| November | 40 days |
| Dec | 42 days |
| Almanac average DOM in Virginia | 38 days |
Source: Redfin Data Center, Jan 2019-December 2019
When should you sell your Virginia home?
Sometimes life changes — expected or not — can crave selling during a slower month or time of year. That'due south ok! The most of import gene in deciding when to sell your firm is you lot. Consider your own needs, financial situation, and timeline to a higher place everything else.
If your reason for selling is relatively flexible — say, you're looking for a bigger house or more user-friendly neighborhood — it might be worth trying to time your sale; however, waiting for tiptop market conditions isn't worth missing, say, a great job opportunity or putting off an important life goal, like retirement.
Top means to sell your house in Virginia
- Low-committee real estate agents
- Discount existent estate agents in Virginia
- Flat-fee MLS services in Virginia
- We Buy Houses for Cash in Virginia
- Top Real Estate Agents in Virginia
Additional resources for Virginia home sellers
- Average time to sell a house in Virginia
- Average cost to sell a house in Virginia
- How to sell a house by possessor in Virginia
- How much are endmost costs for home sellers
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Source: https://listwithclever.com/real-estate-blog/best-time-to-sell-a-home-in-virginia/#:~:text=In%20terms%20of%20price%2C%20the,fast%20in%20Virginia%20is%20May.
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