Anonymous
Post 03/29/2025 08:22     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:
Anonymous wrote:Actual anecdotes only please, with rough location details


Arlington
- condos are buyers market
- townhouses are okay
- single family under $1.5M strong demand
- single family $1.6-$2m good
- single family $2.1M-$2.7M okay
- single above $2.8M weak


That is not what I’m seeing in Arlington. There’s little inventory. Overall, everything listed getting a contract within 2-3 weeds - townhouses and homes under 2.5 within a week, 3M within 4 weeks. Condos under a mil within 2 weeks.
Anonymous
Post 03/29/2025 07:38     Subject: How is the spring close-in DMV housing market looking like?
Demand > supply. Nothing else matters
Anonymous
Post 03/29/2025 07:32     Subject: How is the spring close-in DMV housing market looking like?
Surprisingly stout given all the uncertainty
Anonymous
Post 03/29/2025 03:25     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:
Anonymous wrote:All sold in first few days over ask. I am close in and RTO is heating up market.


Hopefully not a fed RTO - who would buy close in when they could lose their job any day?


Exactly what I was thinking.

I feel like the people buying now have been looking for a while already. I think the number of buyers is going to dwindle as folks hold tight to see what happens over the next few years.
Anonymous
Post 03/29/2025 01:38     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:Well there's this house - paint everything white, then try to sell for $350K more than you bought it for four years ago. They didn't do anything except paint the brown things white and change out some lighting.

https://www.redfin.com/VA/Falls-Church/2414-Lexington-Rd-22043/home/9478377


Fairfax Co Falls Church with weaker schools but in nice neighborhood. Will sell
Anonymous
Post 03/29/2025 01:34     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:Actual anecdotes only please, with rough location details


Arlington
- condos are buyers market
- townhouses are okay
- single family under $1.5M strong demand
- single family $1.6-$2m good
- single family $2.1M-$2.7M okay
- single above $2.8M weak
Anonymous
Post 03/29/2025 00:16     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:20815-Somerset. Houses under $2M are going quickly and multiple offers. The over $3M market is not moving

Except for the 3.3 one that just did. There was a 2.9 recently too.
Anonymous
Post 03/28/2025 23:58     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:All sold in first few days over ask. I am close in and RTO is heating up market.


Hopefully not a fed RTO - who would buy close in when they could lose their job any day?
Anonymous
Post 03/28/2025 23:50     Subject: How is the spring close-in DMV housing market looking like?
20815-Somerset. Houses under $2M are going quickly and multiple offers. The over $3M market is not moving
Anonymous
Post 03/28/2025 22:40     Subject: How is the spring close-in DMV housing market looking like?
Shopping in Arlington and seeing that the bulk of houses for sale are ones that the owners purchased less than four years ago. And I understand why they’re moving — the houses have significant flaws and they can nonetheless bank a healthy profit. Buyers don’t seem to care that the prior owners want to get out after only a few years.
Anonymous
Post 03/28/2025 21:27     Subject: How is the spring close-in DMV housing market looking like?
22101 -

Nice houses, priced correctly sell quick

Tear downs, sell slowly.

Overpriced new builds sit.
Anonymous
Post 03/28/2025 18:25     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:Falls Church: Seems to be heating up—property in my neighborhood just went under contract two days after going live. It was listed “coming soon” for about a week or ten days, so it had gotten some good visibility. Agent said there were multiple offers, so I’m guessing it went for over asking.


In fake Falls Church and my neighbors listed for a bidding war and got it. 10% over ask and given the lack of an addition, probably sets the new high-water mark for the neighborhood. Nothing for sale otherwise.
Anonymous
Post 03/28/2025 17:14     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I'm in capitol hill. The homes under $2M seem to be moving quickly, if they are priced appropriately.


It seems to be the magic number - 2 mil. Anything under in any desirable area gets a lot of interest. If it's over, it's tough. Of course there are areas where 2 mil is entry level or even a tear down, but in most good areas it buys you a move-in condition comfortable home and is a lot cheaper option than new construction.


With 20% down at today's ~6.7% rate, a $1.5M - $2M home is a $8K to $11K monthly. Assuming you aren't spending more than 35% on housing, that's $23K - $31K monthly post-tax income. So $276K - $372K pre-tax annually. It's a tall order. I wonder if the big law instability is going to start pressuring the sub $2M buyer pool, or cause more competition for the $1-1.5M homes.


You can only deduct up to a 750K mortgage on your tax return. People buying 1.5 million homes are usually putting down 750K.
Anonymous
Post 03/28/2025 16:36     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:
Anonymous wrote:I'm in capitol hill. The homes under $2M seem to be moving quickly, if they are priced appropriately.


It seems to be the magic number - 2 mil. Anything under in any desirable area gets a lot of interest. If it's over, it's tough. Of course there are areas where 2 mil is entry level or even a tear down, but in most good areas it buys you a move-in condition comfortable home and is a lot cheaper option than new construction.


With 20% down at today's ~6.7% rate, a $1.5M - $2M home is a $8K to $11K monthly. Assuming you aren't spending more than 35% on housing, that's $23K - $31K monthly post-tax income. So $276K - $372K pre-tax annually. It's a tall order. I wonder if the big law instability is going to start pressuring the sub $2M buyer pool, or cause more competition for the $1-1.5M homes.
Anonymous
Post 03/28/2025 16:21     Subject: How is the spring close-in DMV housing market looking like?
Anonymous wrote:I'm in capitol hill. The homes under $2M seem to be moving quickly, if they are priced appropriately.


It seems to be the magic number - 2 mil. Anything under in any desirable area gets a lot of interest. If it's over, it's tough. Of course there are areas where 2 mil is entry level or even a tear down, but in most good areas it buys you a move-in condition comfortable home and is a lot cheaper option than new construction.