Market Trends March 2021

Market Trends March 2021

  • Property Collective
  • 07/18/24
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. Buying or selling a home in DC area? We'd love to work together!

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