Summer Slow Down for Great Falls Virginia Real Estate

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Posted by Jay Seville on Friday, August 6th, 2010 at 9:55am.

New Great Falls Virginia Real Estate Listings Drop Significantly in Summer

As I have several clients buying homes in the Great Falls Virginia real estate market my fingers are on the pulse of the marketplace.  I run comps regulary for different Great Falls homes for sale and monitor the latest listings with the intention of being the first buyer to view the new listings so we can negotiate without competing offers.  This means manually checking for new Great Falls VA homes for sale daily.

One thing I’ve noticed in particular is that the new listings have been decreasing each month and we are frustrated at the lack of new homes to view.

Graph of New Great Falls homes for sale entering marketplace

great_falls_real_estate_slowdown_in_listing_336_01

Is this trend anything dramatic or idiosyncratic?  Not really.  Generally there is a slow down in the summer months in the annual real estate cycle.  What is interesting though is that this trend is not being seen in the greater Fairfax County real estate market.  There is a reason realtors take their vacation in August and December and January.  They are the slowest months of real estate.

Opportunities for Negotiating Real Estate Prices

Many of the homes on the market in the summer are those that did not sell during the peak market because they priced too high.  Now they are ready to negotiate and come down to reality or 1-2% below market value.  Your agent–hopefully myself the owner of JustNewListings.com Realty — should always emphasize to listing agents in the Summer that it is in your seller’s interest to do business with us because you know as well as I do that their home is going to sit all summer if you don’t ratify with us.  And what could happen between now and Sept or October?  Who knows but it could have a negative impact on your home’s value and your DOM — days on market– will be higher which hurts your negotiating even more.  So work with us now for right price or you’lll get less later.

1 Key Tip for Negotiating Lower Prices for Great Falls Real Estate

If your agent pens a good email on this subject or even better a video email that can be very powerful tool for making a point face to face, then the listing agent who knows your buyer agent is right–hopefully me–can just forward it to his stubborn sellers to make the point as they are likely to listen to the buyer agent more than the listing agent most times believe it or not.  And when the sellers get to watch the buyer agent eye to eye on the computer it can be a bit surreal and the agent can come across with his arguments as quite authoritative. 🙂

 

J

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