It’s a lucrative time to be a seller and a competitive time to be a buyer in the 2021 real estate market. But if you have the right team of people on your side who know the market, that can take a lot of the stress and anxiety out of it and get you the deal you deserve.
If you’re selling a home in Old Town Alexandria, you know how desirable a place it is to live with its 18th-century townhouses and cobblestone streets. And if you’re looking at buying a home in Old Town Alexandria, you’ll want to know the real estate trends happening this year so you can land a contract on your dream home.
Read on to find out all the tricks of the trade whether you’re buying or selling a home in Alexandria, VA.
A Seller’s Market
Much like most cities and towns in America right now, sellers really have the upper hand in the real estate market in Old Town Alexandria. A seller can expect to get full asking price or above asking since inventory is still low and interest rates remain low too.
In Alexandria, VA, townhouses and detached homes are hot right now since people are looking for more space following the peak of the pandemic.
Condos are taking slightly longer to sell in our market, but not much. If you’re working with an experienced team, you should still expect to sell quickly after you list your home. The average time of homes spent on the market is less than a month.
Expect multiple offers if your home shows well and is priced right. You may have your choice of which offer makes the most financial and logistical sense for you and your family.
Buyers Duking It Out
If you’re looking at houses for sale in Old Town Alexandria, be sure you’re prepared to compete with other buyers on properties where you’re wanting to make offers. With inventory low and a lot of buyers looking, sellers are seeing multiple competitive offers.
Buyers with cash offers and no contingencies are often beating out buyers who have another home to sell before they can buy another one, or are having to finance a new home. It’s not uncommon in this market to see buyers make a handful of offers that aren’t accepted before they land a contract.
Don’t get discouraged, there are many ways to make your offer more competitive other than shelling out thousands over the asking price.
Buying and Selling Real Estate in Old Town Alexandria
Whether you’re looking to test your home on the market or looking at buying a home in Old Town Alexandria, it’s an exciting time for real estate.
Buyers, we understand the frustration of a competitive housing market and we’re here to help get you past being told “no” and get you moving into your next home. Sellers, we want you to get top dollar for what your home is worth. We want you to feel good about letting go of your home to the right buyer.
Either way, you’ll want to be sure you have the Alexandria real estate experts on your side. Contact us so we can come up with a plan together to bring you success.