August 20, 2018
| Published in Newsletters

August Newsletter

Dear Friends & Neighbors –

As summer’s end draws near, don’t forget to just take a moment to unwind – that’s what the season is for, and we have found some excellent ways to get the feeling of a luxurious hotel right at home. Between the right color choices and some comfortable seating, you can feel refreshed all day long.

Speaking of relaxation, our brokerage has begun a Wydler Wellness series with two sessions of yoga taught by members of our team: Nya Alemayhu & Anne Wydler, both registered instructors. It’s always nice to start the day strong so we can have more energy for our clients!

Market Overview

Last August we wrote about the steady decline in inventory, which allowed sellers to command higher asking prices. Well 2018 has seen this trend continue, but other factors added in are starting to give consumers pause. In July, home prices in the DC Metropolitan area continue to set decade-highs for the month (even after a strong June, when the median crossed the $600K mark in DC proper for the first time). With construction costs rising due to tariffs on materials, and active listings down “year over year” for the 27th month in a row, many are hoping to wait out this peak in the market.

On a national level, demand has been relatively flat (if not falling) in many cities this summer, and applications for mortgages are declining. While homes are still selling, agents report that they aren’t seeing the same fervor of offer-writing that was prevalent in the spring market. We have yet to feel these factors as strongly in our region, as pending and closed sales in July were up compared to this time last year, 3.2% and 1.3% respectively.

Our group is pleased to report that we’ve have had a very brisk summer, and expect the activity to continue into the fall. Finally, we’re all waiting to hear where Amazon will land their second HQ, but the chatter we hear is that Northern Virginia will be the winner. We will soon know, and this could be yet another driver for a strong local real estate market!

“Back to School” Drive with A Wider Circle

A Wider Circle, the local charity we absolutely love partnering with, is gearing up for “Back to School” season in ways that will support members of our community. We know how valuable it is for children to have a sense of optimism as they begin the school year, so AWC has begun a supply drive to set up teachers and students for success on day one. They are looking for the following new items:

Backpacks, binders, notebooks, markers, crayons, pens, scissors, glue sticks, pencils, paper, and calculators.

Items can be dropped off at A Wider Circle, 9159 Brookville Road, Silver Spring, MD 20910. They are open every day until 6pm. If you would like to order online and have items shipped directly to AWC, please visit their Amazon Wishlist! They will accept items through Labor Day, and any help you can provide will make a difference.

Hot Buyers Exploring the Market

Between the MLS and our proprietary Private Label MLS, Wydler Brothers agents have access to the most comprehensive database of purchase opportunities. That being said, we’ve found that by asking you we can often find additional opportunities. Here’s a taste of what some of our buyers are looking for. If you or anyone in your network lives in a property that matches one of the following descriptions and is thinking of moving, let us know! We would love to play matchmaker.

These are just a few of our buyer needs. Don’t hesitate to reach out if you know anyone looking to sell, and we will do our best to find a buyer!

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