Is the dc re market shifting?
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Anonymous
| Thinking of selling our Fairfax County single family home and retirng. Est value about $1.6m in good school pyramid. Agents are bs artists so always says it’s a great time to sell or buy (at anytime) but for those of you currently selling, how’s it going? |
Anonymous
| Yes it appears so. Our neighbor lifted their home during spring break and expected multiple contracts - none received. Home priced at $1.45 |
Anonymous
| If you don't have to sell now, don't. Too much uncertainty and people are waiting to see about jobs and whether there's going to be a recession. |
Anonymous
|
Upper NW DC and CC MD market seems to be moving quickly for anything under $2MM (up to $2.5MM for CC MD).
The $5MM listings are sitting. I saw one sold in like 2020 for $3.5MM and now they are trying to sell for $5MM. Maybe they did tons of renovations, but hard to know. Just seems like a strange time to list that house at that price. |
Anonymous
| House prices are declining so if you want to sell, sell it quickly or wait 3-4 years. |
Anonymous
Agree that under $2M is moving in CCMD. The $3M+ are not moving but these were all $2M+ houses precovid. People are starting too high based on the current conditions. |
Anonymous
There will always be buyers. However I see many listing with high prices rising the momentum. I think prices will come down and people will continue to buy. Inventory still low (mostly due to sub 3% mortgage notes) and people are still looking (albeit with a tentative mindset) but will pull trigger for good value opportunities |
Anonymous
My big block of a lot of homes last sale was 2018. The next block we had two listing this year, both over ask and sold first week. I noticed in close in good blocks. People live a long time on the blocks. Interest rates or home prices up or done on my block have zero bearing on sales. They are put up for sale when owner dies. Kinds like a Rent Controlled Apt in NYC. |
Anonymous
+1. Also, everything in Bethesda under $2 million is selling really fast, often above asking, unless the house has some issue like being on a major road or backing to the beltway. |
Anonymous
| really good houses still sell. but the meh ones sit for a lot longer and a lot of them actually are taking a loss. |
Anonymous
| yes a decent amount of new inventory is not selling in NOVA. |
Anonymous
Disagree. List it ASAP or wait for the economy to recover. |
Anonymous
I live near there and between 1.5 million and 2 million sells in a week. If a SFH that is at least four bedrooms with a garage. And not on a crazy busy street or some deal breaker type thing. |
Anonymous
| Our neighbors put their house on the market in Ffx Co., good school pyramid, a few weeks ago. $1.2M. No contract yet. Over the past few years would have been been tons of people visiting right away, multiple contracts first weekend, etc. I suspect they will need to drop the price. If i was going to be moving out of the area in the next few years, I think selling sooner rather than later would the way to go. Lots of clouds and uncertainties on the horizon. |
Anonymous
| If the home is well priced, in excellent condition, well located, then it will sell....but may take a bit longer vs last year at this time. Yes....uncertainty always bad for markets |