SPRING MARKET!! What's the vibe?

[Anonymous]

Anonymous wrote:Everything in our neighborhood is getting and accepting offers within a day of going live..if it isn't snapped up sooner. We live in a very attractive school pyramid in Northern VA.

What city? Northern VA is a big place.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is nuts in LV - $1.8M for an original home on less than 6000 square foot lot. Redfin already shows it’s worth $300K less than what was paid

https://redf.in/kIGysA

Also only 2 legal bedrooms. Jesus.

What? Is Jesus taking up one of the bedrooms????

[Anonymous]

We were planning to look at a house originally listed for $1.14M. Our agent informed the house had multiple offers the day it was opened. We were not available that weekend to check it out. Redfin shows it sold for $1.282M. The deal must have happened very quickly.
There are crazy overbids for Oakton high and Chantilly high pyramid.

[Anonymous]

Realtor here. Buyer activity is very high in Alexandria, Arlington, Falls Church, Springfield and Vienna. My last listing in Alexandria (FFX County) had 10 offers and went almost $100K over list, no contingencies and my clients got a free 2-month rent back. I wrote an offer for buyers for a home in Springfield last weekend and was beat out by another offer. There were 9 in total. My clients went $125K over list, waived all contingencies and offered a free rent-back. Both homes were in the $800K-1 million price point. I would also add that 30 percent of pending listings currently in my office were exclusive listings so they never even hit the mls. I have 2 buyers under contract in the $1.3m range and both those listings were private exclusive listings with Compass.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is nuts in LV - $1.8M for an original home on less than 6000 square foot lot. Redfin already shows it’s worth $300K less than what was paid

https://redf.in/kIGysA

Also only 2 legal bedrooms. Jesus.

What? Is Jesus taking up one of the bedrooms????

Hahahaha I read it that way, too! Like, it’s got those two bedrooms and also Jesus. Who may or may not sleep in one of the bedrooms. Knowing him, though? He probably just sleeps on the couch.

[Anonymous]

Anonymous wrote:Realtor here. Buyer activity is very high in Alexandria, Arlington, Falls Church, Springfield and Vienna. My last listing in Alexandria (FFX County) had 10 offers and went almost $100K over list, no contingencies and my clients got a free 2-month rent back. I wrote an offer for buyers for a home in Springfield last weekend and was beat out by another offer. There were 9 in total. My clients went $125K over list, waived all contingencies and offered a free rent-back. Both homes were in the $800K-1 million price point. I would also add that 30 percent of pending listings currently in my office were exclusive listings so they never even hit the mls. I have 2 buyers under contract in the $1.3m range and both those listings were private exclusive listings with Compass.

What is meant by getting rent back??

[Anonymous]

Anonymous wrote:

Anonymous wrote:Realtor here. Buyer activity is very high in Alexandria, Arlington, Falls Church, Springfield and Vienna. My last listing in Alexandria (FFX County) had 10 offers and went almost $100K over list, no contingencies and my clients got a free 2-month rent back. I wrote an offer for buyers for a home in Springfield last weekend and was beat out by another offer. There were 9 in total. My clients went $125K over list, waived all contingencies and offered a free rent-back. Both homes were in the $800K-1 million price point. I would also add that 30 percent of pending listings currently in my office were exclusive listings so they never even hit the mls. I have 2 buyers under contract in the $1.3m range and both those listings were private exclusive listings with Compass.

What is meant by getting rent back??

It's just like it sounds. The original sellers are able to rent back the property from the new buyers. In the above case, it sounds like the buyers offered the "rent back" for free which is a benefit to the sellers. Hope that helps.

[Anonymous]

Anonymous wrote:Realtor here. Buyer activity is very high in Alexandria, Arlington, Falls Church, Springfield and Vienna. My last listing in Alexandria (FFX County) had 10 offers and went almost $100K over list, no contingencies and my clients got a free 2-month rent back. I wrote an offer for buyers for a home in Springfield last weekend and was beat out by another offer. There were 9 in total. My clients went $125K over list, waived all contingencies and offered a free rent-back. Both homes were in the $800K-1 million price point. I would also add that 30 percent of pending listings currently in my office were exclusive listings so they never even hit the mls. I have 2 buyers under contract in the $1.3m range and both those listings were private exclusive listings with Compass.

Interesting re the 30% private exclusive. Do you see people list private exclusive to test the waters and see if anyone bites? As in they don’t have to sell but would for the right price?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Realtor here. Buyer activity is very high in Alexandria, Arlington, Falls Church, Springfield and Vienna. My last listing in Alexandria (FFX County) had 10 offers and went almost $100K over list, no contingencies and my clients got a free 2-month rent back. I wrote an offer for buyers for a home in Springfield last weekend and was beat out by another offer. There were 9 in total. My clients went $125K over list, waived all contingencies and offered a free rent-back. Both homes were in the $800K-1 million price point. I would also add that 30 percent of pending listings currently in my office were exclusive listings so they never even hit the mls. I have 2 buyers under contract in the $1.3m range and both those listings were private exclusive listings with Compass.

What is meant by getting rent back??

It basically means the sellers stay in the house for a set period of time after the closing date. The house closes, so the house is now owned by the buyers, but the sellers still live there. So they become tenants. The buyers rent the property "back" to the sellers.

[Anonymous]

This is all terribly depressing to read. My gorgeous DC SFH is just sitting and sitting.

[Anonymous]

Anonymous wrote:This is all terribly depressing to read. My gorgeous DC SFH is just sitting and sitting.

Well at least you ain’t buying. Imagine how I feel as a prospective first time home buyer right now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow it’s crazy that 1.5 million isn’t enough to buy a house in Arlington!

It is, but it won't be very nice. If you go just a couple miles to the west or south, you'll find exceptionally nice properties at that price, but many folks are obsessed with having that N Arl address.

Nah I’m obsessed with my 20 min door to door N Arlington to DC commute during rush. Priceless. Also fly regularly for work and getting to DCA during rush in 10 minutes is also perfection.

You pay for the convenience and boy do you get it.

Interesting, but those times don't hold for the vast majority of N Arl.

+1

Unless you are living in Rosslyn and working in Georgetown ...

That would be 10 minutes. N.Arlington near Glebe rd. access to GW Pkwy is pretty fast getting to Gtown, Foggy Bottom, K st.

In 22207 pretty close to spout run parkway and if I had a parking space at the office it would be 20 minutes.

[Anonymous]

Anonymous wrote:Here are REAL facts for 2026. I’m giving you Ciry, average sale price, says on market and what percentage went for over list. All areas seem basically the same. All markets strong. I’d say vienna is the strongest for sellers.

Arlington 806k 22 days 17% over list
Alexandria 657k 21 days 26% over list
Mclean 1.4M 29 days 13% over list
Vienna 1.1M 16 days 31% over list
Reston 619k 17 days 24% over list
Ashburn 791k 15 days 27% over list
Leesburg 837k 13 days 26% over list

The market is still very titled to sellers, but these statistics are completely fictional.

[Anonymous]

I don't like overbids and I sometimes feel the whole thing like a scam. How do I know it is really true if the seller agent says someone else has put in an extra 100K bid? There is no proof and everything is private information. When a house comes up saying there is a deadline for offers, I don't even feel like checking it out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Here are REAL facts for 2026. I’m giving you Ciry, average sale price, says on market and what percentage went for over list. All areas seem basically the same. All markets strong. I’d say vienna is the strongest for sellers.

Arlington 806k 22 days 17% over list
Alexandria 657k 21 days 26% over list
Mclean 1.4M 29 days 13% over list
Vienna 1.1M 16 days 31% over list
Reston 619k 17 days 24% over list
Ashburn 791k 15 days 27% over list
Leesburg 837k 13 days 26% over list

The market is still very titled to sellers, but these statistics are completely fictional.

I think what that guy is saying is how many percent of sales were above list. Not how much the sale prices were over list.

17% over list = 83% at or below list.