O Home Sellers, Where Art Thou?
It’s a tough world these days as a buyer in the Northern Virginia market. Months of pent up demand from frustrated buyers is causing a huge increase in multiple offers on properties new to the market. There’s so little to choose from across the board – condos, townhomes and single family homes – that everything is selling quickly and for a lot more than last year.
Recently, a townhouse in Clarendon received 10 offers. The asking price was just under $1M.
A single family home in McLean which was a flip, was listed for $80k over the almost exact same house sold just a few months prior. They got 3 offers.
A 2 bedroom condo in Clarendon listed for $30k over a similar unit recently sold received 2 offers in the first 3 days.
If you’ve ever explored the idea of selling, NOW is really the time to take advantage of the buyers who are literally chomping at the bit to find something.