Waiting for the Dust to Settle…

It’s the beginning of July, which means the we are halfway through the year, and the busiest period of the year for home sales is waning. Here’s how the real estate market looks for single family homes in Purcellville right now:

Now that the first time homebuyer tax credit has ended, we should start to be able to discern the real health of the market here. Right now, inventory is up, days on market is down considerably. Median home price, after peaking in mid-April, is now back to about where it was to start the year, and has remained pretty consistent outside of that two week blip.  We will probably see pricing adjust down soon, until the high amount of inventory gets absorbed; this will cause days on market to rise as well.   If you are thinking about buying or selling now, please reach out so that I can give you market advice that is more tailored to your specific situation.

Cheers,
Heather

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About our blog

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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