Everywhere we turn people are asking, “What’s happening in the D.C. market? Is it cooling off? Is now a good time to sell? Buy?” Of course the answers to those questions are nuanced and depend on each individual clients’ real estate needs and wants and we’d love to answer them for you one-on-one!
Even if you don’t think you’re ready to sell or buy (or both!) The Carolyn Homes team is always here to talk you through the market and help you focus on both your short and long-term real estate goals.
Despite signs of a shifting market, one thing we do know is that “hot” listings are still just that, HOT! So, what is considered a “hot” listing in the D.C. market?
- Location – Properties that are in highly desirable subdivisions, and/or have a high walk score, close to local amenities, parks, Metro, shopping, etc.
- Priced right – When listings are priced appropriately, or on the lower end of the comparable sales, the buyers will come running!
- Turn-key condition – Preparing a property for the market has never been as important. Properties in turn-key condition appeal to the largest pool of buyers and drive in the most traffic. Many buyers have just enough cash on hand for their down payment and closing costs; they don’t always have a renovation budget on top of that. Offering your property in turn-key condition will lead to more buyers and a higher sales price.
Typically, a property must meet at least two of the above criteria in order to achieve “hot” listing status, often resulting in multiple offers and even escalations.
Do you have a hot listing on your hands? Call The Carolyn Homes team today to align yourself in the perfect market position, and to realize the highest net gain on the sale of your property!
Stay tuned to hear about our latest “hot” listing success story in the coming weeks!