Metro DC Area Real Estate Heating Up!

Most if not all of our transactions this year have involved several parties to the negotiation of the contract meaning multiple buyers and multiple contracts. There are buyers who are lurking and realize this is a great time to buy. Now if we could only start seeing the inventory increase. Supply is low. Laws of supply and demand signify that prices are and have been stabilizing and will begin to see some increase especially when you have two or more buyers involved. The market is heating up!!!

Now let me clarify which properties are the ones that buyers are interested in buying in this stabilizing market. Those homes that show well and and are priced right. Even properties on busy roads such as Military Highway are selling with multiple offers and escalation clauses because they show well and are priced well. Not some property where the listing agent got the listing by telling the seller some ridiculous number which the agent knows he or she is going to have to have to come off that number by about 100k. Sellers beware!

On another note, Yahoo just showed statistics that the Washington DC Metro area is ranked #1 with the highest population of highest paid people between the ages of 26-34 in the nation above NYC and California. Arlington is ranked the #2 city for the most highest paid young professionals in the nation. This is good news.

If you're looking to buy or sell, contact us and we'll help you navigate this market that's heatin' up!