Q1 stats for our region were just released, and the story is consistent across our area. Unit sales across jurisdictions are down year over year, while prices are up. On top of that, many homes are receiving multiple offers.
As an example, we recently listed a great home and received 22 offers in a matter of days. 21 were non-contingent (buyers waived their home inspection and financing contingencies), even though 18 of those buyers still intended to take out a loan. The 3 remaining offers were all cash (they had liquid assets in excess of the sales price), and therefore did not need financing. The home is now under contract for hundreds of thousands of dollars above asking price. While we have a happy seller and buyer, there are still 21 other buyers looking for a home in that area.
In a strong market like this, many homes will sell quickly. However, speed does not necessarily mean you're maximizing your property's value. To do that, you need a thoughtful and comprehensive marketing plan. If you're thinking about selling, call us for a private consultation so we can discuss how we achieve these exceptional results for our clients.
Transactions: 2,226 (YoY change -6.19%)
Sales volume: $1,839,511,900 (YoY change +1.84%)
Median sales price: $650,000 (YoY change +3.6%)
Median Days on Market: 9 days (YoY change -3.13%)
Transactions: 90 (YoY change -24.37%)
Sales volume: $118,024,089 (YoY change -18.05%)
Median sales price: $975,000 (YoY change -6.56%)
Median Days on Market: 7 days (YoY change -9%)
Transactions: 240 (YoY change -3.61%)
Sales volume: $244,534,688 (YoY change -5.81%)
Median sales price: $962,500 (YoY change -3.94%)
Median Days on Market: 7 days (YoY change 0%)
Transactions: 98 (YoY change -33.78%)
Sales volume: $124,496,300 (YoY change -33.97%)
Median sales price: $1,235,00 (YoY change +10.24%)
Median Days on Market: 6 days (YoY change -4.3%)
Transactions: 216 (YoY change -3.57%)
Sales volume: $370,719,377 (YoY change +26.93%)
Median sales price: $1,300,000 (YoY change +25.3%)
Median Days on Market: 8 days (YoY change -6.7%)
Transactions: 675 (YoY change -2.74%)
Sales volume: $517,644,853 (YoY change +1.19%)
Median sales price: $637,750 (YoY change +6.16%)
Median Days on Market: 6 days (YoY change -3.3%)
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Wydler Brothers have been selling residential real estate for over 20 years in the DC metro area. Along the way, they’ve achieved numerous awards and recognitions, including being recognized as “The Most Innovative Real Estate Agent in America” (Inman, 2014), written several articles for The Washington Post, authored a book, “Inside the Sell”, co-founded a real estate tech company which sold to Move, Inc. in 2013, and built Wydler Brothers into a highly respected boutique brokerage with 70 agents and employees which they sold to Compass in 2019. Currently, Wydler Brothers is among the top 3 teams in the DMV and was the #1 Compass Team in 2022.