How is the summer market?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
In Bethesda it's practically frozen. Prices have stagnated or come slightly down from last year, but the problem is inventory. It's always been inventory. There aren't enough homes for everyone, and the homes that sit are overpriced for their flaws. There are practically no smaller homes for families just starting out, and there is a number of very large expensive homes - in that price range, people get really picky so sale periods are more protracted. The market this year has been seriously disturbed by high interest rates. People don't want to leave their low mortgage rates to pick up a ridiculously high one, and that goes for sellers and buyers, even in wealthy areas where a number of transactions are in cash. |
Anonymous
You're not gonna disclose the MLS ID, are you? Because it's a lie. Since you just sold, the MLS ID should be very very handy. |
Anonymous
Shut up, you’re an idiot desperate for attention |
Anonymous
NP, but geez chillax dude. Just run a search for sold Rockville townhouses. In one minute, found this one that went for $75K over asking: https://www.zillow.com/homedetails/2031-Ashleigh-Woods-Ct-Rockville-MD-20851/58240775_zpid/ |
Anonymous
No it didn't. The owners wanted $716K, they listed lower thinking there will be a bidding war, but it didn't happen. Their pricing history shows it. Like I was saying, lies, lies and more lies. Finding one random sale that meets the criteria of over asking (which even this one really wasn't) is meaningless. And the prior post of "shut up" is exactly the kind of response you get when presented with reality. 
|
Anonymous
| I am working with an Arlington/Mclean client with a price range of about $2.5 million; the market is very busy, with "good" properties (i.e. on a desirable street with a good lot and updated) flying off the market. Properties with good tear down potential are also moving fast. The prices (thankfully) are not spring/early summer of 2022 prices. Sometimes there are contingencies. It's a pretty strong seller's market with plenty of demand. |
Anonymous
|
My bad, I transposed a digit.
23 sales over the last six months in the entire county. Still not "flying off" 
|
Anonymous
You are unhinged. |
Anonymous
|
Bethesda remains on fire, not enough inventory and crazy run-up bidding. Then again, it's never not this. |
Anonymous
NP here - We're looking to buy in the 2 M range and sell out house at the 1.1M range, both in Bethesda, and this is exactly what I have observed. |
Anonymous
I don't know, roughly one house/week in this range selling seems like a pretty good clip to me. Most houses cost less than this range. |
Anonymous
| Anyone who can wait should consider doing so. Fall is always much slower and a better time to buy. Plus, many market analysts think that consumer demand will slow significantly once student loan repayment resumes in a couple months. Also, there is stock market euphoria right now, with Apple, Meta, and other tech stocks going gangbusters, and this can't last forever. All in all, it actually makes sense that the housing market is still nuts, but not clear that this will last much longer. |
Anonymous
|
Housing will probably hang in there until rates drop below 4%.
Once this happens people can afford to sell their current house and buy something else. Inventories will then explode and prices will drop. Now, for what reason would the Fed ever lower rates below 4% again? A severe recession. They’re not going to cut when the economy is fine. |
Anonymous
| We've been in the market since April. Have consulted with 3 different realtors. All have told us- and our experience matches- that offers significantly over asking with all contingencies waived have been the winning offers. We're picky so we've only put in one actual offer of 50k with void only home inspection and lost to 100k no contingencies. We have seen many other houses that closed a month later for way more than we thought the place was worth (priced high and needs a lot of work and still closed above asking). |
Anonymous
How many have been on the market in the past 6 months? |