July 2018 newsletter-market update

(Above data was published in June, 2018.) Low inventory across the DC metro area in medium-price ranged homes continues to drive sales prices. The sales price to asking price ratio has reached 100%, meaning that on average sellers are receiving full price! Buyers often have to match or offer more than the asking price to win a sales contract. They also need to structure bids in a way that appeals to the seller and differentiates their offer from those of competitors. We’ve seen multiple bids for many attractive listings that show well and are in more desirable locations. In MayI helped a buyer client beat out 15 other bids (and not on price alone)!