Active Listings Remain Down - Advantage Sellers
What is an active listing? An active listing is a home offered for sale by the seller. It has been entered into the online Multiple Listing Service (MLS) and a real estate broker is under contract with the seller to market the home and solicit offers from buyers. Active listings in Northern Virginia have trended down, especially in the last year making it more challenging for buyers.
Measuring the flow of active listings in specific Northern Virginia neighborhoods for my clients is important - just like economists who measure money supply in the general economy. The velocity of money in our economy is also important. In real estate, velocity is measured by the number of days on the market before an active listing goes under contract. The concepts also closely tie to advantage, leverage and who has it - buyer or seller. Professional agents thoroughly understand these concepts, current statistical relationships and much more. Why? Because a higher degree of knowledge means a higher quality of counsel that I can provide to my clients. In my view, I can be nothing less than a knowledge expert when I'm counseling a seller on how to position their home for market, or when I'm advising a buyer on the precise aspects that go into structuring a winning offer for the home they want to purchase.Click Here to Read More...
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