Market Trends March 2021

Market Trends March 2021

Buying a home this spring was not for the faint of heart. Our team represented many clients who were competing with sometimes 10-20 other offers, most waiving all contingencies, all going significantly over the asking price, sometimes by $100,000 or more.
 
But don’t be discouraged! Shane has access to unique off-market opportunities and knows the strategies and terms it takes to win. Of course, it varies by location and price point but we are seeing a subtle change in buying power as these challenging conditions ease heading into the summer months.

Let’s catch up soon if you’re considering a move!


Notable Sales:

13328 Emeric Court, Centreville

 
Sold for $975,000 in March 2021
 
  • Moved to: A modern new construction in Vienna
  • We represented: Out sweet sellers who also bought
  • How they found us: Internet research
  • Time on Market: Less than 24 hours
  • What they got: $50k over their asking price, all cash, no contingencies

3113 Savoy Drive, Fairfax

 
Sold for $794,000 in March 2021
 
  • Moved from: 500 square feet on U Street downtown
  • We represented: The buyers
  • How they found us: High school and college friends with Shane and his wife Flor. She was a bridesmaid at their wedding! 
  • What they were up against: An offer deadline and 17 offers
  • How they won: $64k over asking, waived all contingencies, and wrote a sweet letter
Pro Tip:
These buyers paid for a pre-inspection of the property to help them get comfortable waiving the home inspection contingency. It’s not always possible but a strategic way to find some peace of mind in a competitive multiple offer situation.

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Property Collective is a full service real estate brokerage specializing in Northern Virginia and Washington DC residential home sales. Thank you for your interest in Property Collective, we’d love to work together! Fill out the form and we will be in touch soon to share more about our process and learn about your real estate goals.

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