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First Time Buyer Credit Affecting Inventory? Heck, Yes…

So if you want to take advantage of the first time homebuyer or move-up homebuyer tax credit by the contract deadline of April 30th? Looks like you are not alone…Here are the inventory numbers for all of Loudoun County. Keep in mind that the condo chart includes townhomes, too:

Not a whole lot to pick from, all of a sudden, huh? I just took a peek at the number of homes that went under contract in LoCo in the last 30 days… 613.  Which means we have about two months of inventory available at the rate at which they are going under contract. I have no idea (and am interested to see) what will happen after this month, when the tax credit is no longer affecting the market.

If you are thinking of selling this spring, I’d highly recommend getting on market this week: very little competition, and highly motivated buyers.  If you are looking to buy this month, make sure you are working with an agent that is getting new listings to you on a daily basis, so that you don’t miss out.

Cheers,

Heather

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Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.



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