Updated: Apr 26
September is done, October has begun! And the real estate market in Midlothian, as in the rest of the Richmond Virginia area, continues to be a very hot seller's market! There continues to be very low inventory while homes that come on the market are going under contract as soon as they hit the market! Below, here are the market statistics for the 9 months ending September 30, 2021!
As you can see, there are only a TOTAL of 7 active listings for buyers to choose from, while 37 homes are under contract. The sales continue to be strong and homes continue to go under contract exceedingly fast! And many homes are selling over asking price!
So what does that mean for you if you are thinking of buying a home? It means that you may have to offer above asking price; it may mean that there will be more than 1 offer on any house that comes on the market; it may mean that you will have to decide fairly quickly if you want to make an offer on the house; and it may mean that you will have to offer some sweetened terms to your offer! It may ultimately mean you will have to be strong in this heated up market!
And what does it mean if you are thinking of selling your home? It means that you will most likely not have a lot of competition - but it does NOT mean you can ask whatever you want for the house and expect buyers to pay that! It does mean that if you have good pictures in MLS and your home shows well, you could possibly have a lot of buyers interested in your home!
So if you are thinking of buying a home, or you are thinking of selling your home, contact me and let's explore strategies and options. I live in Midlothian, my office is in Midlothian and I work the Midlothian area! Let me know how I can help!