Hot, Hot, Not
During the first three months of 2014, Bethesda had a hot market with 130 Single Family Homes (SFH) and 46 condos sold. There was a tremendous feeling that we were already in a full-blown Spring Market. It felt like a great beginning to a hot, hot year. We were seeing properties fly off the market with multiple offers and few contingencies. Good properties were not sitting long.
But the weather seemed to miss the news. Our winter was long and drawn out over several storms and multiple school closings. People don’t like listing their homes during a snow storm, but buyers want to search online when they’re stuck at home. So demand went up, and supply went down.
Fortunately, the warm Spring weather arrived and we were starting to see new listings ready for market. However, due to thunderstorms and flash flooding, consumers should pay attention to homes that change to Temporarily off the Market (TEMP OFF) and return to ACTIVE a few days later. These sellers may have had water problems during the storms.
So What’s Hot This Season?
Washington DC’s Condo Market is heating up now with increased sales. Pre-MLS (Multiple Listing Service) and Non-MLS Listings are making the news. Locally, the Top Agent Network allows agents in the top 10% of their market to share potential listings and buyer information. As an exclusive buyer’s agent in the top 10%, I can alert my clients to new listings and show them before they hit the internet.