As the health crisis started making its way throughout our country earlier this spring, sellers have been cautious about putting their homes on the market. This hesitation stemmed primarily from fear of the spread of the coronavirus, and understandably so. This abundant caution has greatly impacted the number of homes for sale and slowed the pace of a typically busy spring real estate season.
Here is the latest stats on what’s happening in the Tysons Corner Real Estate Market last month:
- 37 homes in Tysons Corner came on the market
- 29 went under contract
- 19 closed sales
In Tysons Corner, there were 37 new listings on the market this May compared to the 63 listing during the May 2019. There was also a slight decrease in new listings compared to the 38 Tysons Corner homes listed last month, which could signal that sellers are still slowing reentering the Tysons Corner housing market.
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As Northern Virginia begins a phased approach to reopening, virtual best practices and health and safety guidelines for the buying and selling homes are in place to increase the comfort level of buyers and sellers. As a result, we are seeing more sellers come back to the market to list their homes.
Buyer demand in Tysons Corner continues to outpace seller inventory, resulting in multiple offer situations, low days on market, and increasing home prices. The median days on market for May 2020 in Tysons Corner was only 6 days with sellers getting 100% of their list price. In addition, if buyers continue to return to the market faster than sellers, we could see an even more extreme seller’s market. What was supposed to be a busy spring market is now turning into an even busier summer market.
Check out the latest homes for sale in Tysons Corner:
How do I become a real estate broker? To become a real estate broker you must:
- hold an active sales associate license;
- complete 24 months of real estate experience within the 5-year period before applying for the real estate broker license;
- successfully complete a 72-hour pre-licensing course for brokers;
- submit completed application, fingerprint card and appropriate fee (you may submit this package prior to completing the pre-licensing course);
- pass the Florida Real Estate Broker Examination with a score of at least 75;
- activate the license, if you plan to work immediately as a real estate broker;