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Reply to "Feels like market is hitting a wall"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]In my exurb, 600k houses are selling fast, 4-500k townhouses are mixed, and 7-800k houses are sitting. So There’s still a strong demand for a sweet spot, but outside of that stuff is sitting. [/quote] Nobody in their right mind would pay $800,000 to live in an exurb. Plenty of other options closer in at that price. [/quote] I can see people still buying the $800k homes in the exurbs. If that’s your budget but you want 4 bedrooms and some degree of land and new/newer construction (less than 20 years old) that’s where you have to look. Just in my general area (Burke, Springfield, Fairfax) there isn’t much right around that price, but there are less expensive TH and more expensive SFH. Fed government seems to want to seriously push back on telework in the DC area, but from what I’m seeing, smaller to medium size businesses are happy with telework and not spending so much $$$ on commercial real estate leases in big office buildings. All that to say that, as always, prices and demand will fall first in the outer burbs vs. The city and the inner burbs, but there’s always going to be people who prefer the exurbs for whatever reasons. [/quote] Houses are going for over 800k close in as well in PGC. [/quote]
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