Vienna Housing Market
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
Is the housing market in Vienna really bad? Why would the home owner drop the price by $126k 5 days after listing?
https://www.realtor.com/realestateandhomes-detail/300-Jade-Ct-NW_Vienna_VA_22180_M51783-18029 Additionally, noticing similar drops in Oakton. I thought these were coveted areas? |
Anonymous
| We live in Vienna and in our neighborhood homes are still flyin' (which is strange because the overall cooling off should have impacted our areas too) |
Anonymous
It's a buyers market now with more homes on sale then buyers. In the listing above, IMO the open house probably didn't go that well and the buyer decided to not wait and dropped the price. |
Anonymous
| Maybe they got feedback that they were pushing it too much. It might sell quickly once it’s priced right. There’s a house near it for 2.2 but it’s 1000 SF larger. |
Anonymous
| It's actually still a seller's market. There is more inventory, but it's still much harder for buyers than sellers. This house, in particular, might not have been priced right to begin with. |
Anonymous
| I have performed detailed analysis on the local RE market, more particularly northern Va. The peak (for sellers) was last spring but sellers thought the upward trajectory continued into this year. No true. Market leveled off so the home above is priced closer to the peak from spring 2024, likely still a bit inflated. I think it will close just above $2m or even just below it. In case you been in a cave with zero communications, there is much political and economic instability. Buyers are nervous, conservative |
Anonymous
+1. No doubt pricing on downward trajectory after Jan 1 of this year. Price reduction across the board and more pronounced over $2m |
Anonymous
| 101 pictures is excessive. Unless it’s the Biltmore mansion or something, it makes no sense to start with 20+ photos of the exterior taken from every last angle. |
Anonymous
| Based on feedback was probably overpriced and the seller/agent acted accordingly. |
Anonymous
+1 Same. We are near Wolf Trap. |
Anonymous
are your homes in the $2m plus range? |
Anonymous
Slightly under. |
Anonymous
| Houses in my $1-$1.5M Vienna neighborhood are selling quickly. I’m surprised, I’d have thought the current political climate would’ve slowed things down. |
Anonymous
Under $2M are selling. A lot of homes in Vienna priced between $2M - $2.5M are harder to move. |
Anonymous
It makes sense that they dropped the price based on the sale price of the home next door. Sucks for both sellers in this case! |