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        In-Person or Virtual, The DC Housing Market is Moving

        by Nena Perry-Brown

        The one-bedroom Capitol Hill home that went under contract in 24 hours.

        Data in April suggested that the pandemic has tipped the DC-area housing market more in favor of home sellers — and according to realtors, this isn't a fluke.

        Compass' Maureen Weaver recently listed a home in Chevy Chase DC, and over the course of two days, the home was shown almost 40 times.

        "I scheduled appointments every 15 minutes so I could get as many buyers through the house on Saturday and Sunday while my clients were away," Weaver told UrbanTurf. 

        Along with pacing the tours out, Weaver sat outside to make sure anyone entering the house had on a mask and gloves, was in the home alone, and adhered to the 15-minute schedule.

        The result? "It received 8 offers, and it escalated far above the list price."

        A house UrbanTurf recently featured is another example of the climate of competition in certain sectors of the market. Sherri Anne Green of Coldwell Banker said that the one-bedroom rowhouse she listed in Hill East was under contract in 24 hours after receiving multiple offers, the quickest sale she has ever made.

        "[Homes] that were attractive prior to corona are just as much, or more, attractive to people now, so things just really seem to still be moving," Green explained. 

        Home prices and supply in the DC area.

        The new condo market may not be experiencing the same level of competition, but buyer interest remains high.

        "Our conversion rate for 2020, the number of sales per in-person visit, has increased 30% in April," McWilliams|Ballard founder and president Chris Ballard shared with UrbanTurf. "While visits to each of our communities is lower, with the utilization of virtual tours, virtual appointments via Zoom and FaceTime, we have found that buyers who make an in-person visits are now much more likely to make an immediate buying decision."

        President of Urban Pace Clint Mann said that although sales fell in April, low mortgage interest rates continue to motivate sellers. People buying new condos now can take comfort in being able to close once the property delivers, and there is less of an expectation to see anything in-person.

        "In the last few weeks, we have started to sell to people completely virtually," Mann explains. "Consumers are reaching out to us over the phone or internet, having video sales appointments, touring models virtually and signing contracts via Docusign."

        This article originally published at http://www.811web.cn/articles/blog/in-person-or-virtual-a-look-at-what-is-keeping-the-market-moving/16840

        DC Real Estate Guides

        Short guides to navigating the DC-area real estate market

        We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

        Northern Virginia

        Profiles of 14 neighborhoods across Northern Virginia

        Ballston
        Looking to Give People A Reason to Stay Past 6pm
        Clarendon
        Happily Straddling the Line Between City and Suburb
        Columbia Pike
        Arlington’s Neglected Stepchild is Getting a Makeover
        Crystal City
        Turning Lemons into Lemonade
        Lyon Village
        Developing An Air of Exclusivity?
        Rosslyn
        Hitting Its Growth Spurt
        Shirlington
        An Urban Village Hitting Its Stride
        Del Ray
        Virginia’s Small Town Near the Big City
        Eisenhower Avenue
        The Vibrancy Might Take a Few Years
        Huntington
        The Quiet Neighborhood By the Beltway
        Old Town
        Mayberry By The Potomac
        Parkfairfax
        132 Commerical-Free Acres
        Downtown Falls Church
        Staying the Same in the Midst of Change
        Tysons Corner
        Radical Change Could Be On The Way

        See more Northern Virginia »

        Maryland

        Profiles of 14 neighborhoods in suburban Maryland

        Annapolis
        Small-Town Living in the State Capital
        Bethesda
        Bedroom Community Gets Buzzing Cache
        Cabin John
        In With The New While Maintaining the Old
        Chevy Chase
        Affluence, Green Lawns and Pricey Homes
        Downtown Silver Spring
        Experiencing a Resurgence After a Bumpy History
        Potomac
        A Suburb on Steroids
        Rockville Town Square
        Despite the Dynamism, Still Somewhat Generic
        Takoma Park
        More Than a Little Bit Quirky
        Wheaton
        A Foodie Magnet on the Verge of Change
        Capitol Heights
        Kudzu, Front Porches and Crime
        Hyattsville
        Glass Half Full or Half Empty?
        Mount Rainier
        Artists, Affordable Homes and A Silo Full of Corn
        National Harbor
        A Development Rises Next to the Potomac
        Riverdale Park
        A Town Looking For Its Identity

        See more Maryland »

        Northwest DC

        30+ neighborhood profiles for the city's biggest quadrant

        16th Street Heights
        DC's Sleeper Neighborhood
        Bloomingdale
        Where (Almost) Everyone Knows Your Name
        AU Park
        One of DC’s Last Frontiers Before the Suburbs
        Brightwood
        DC’s Northern Neighborhood on the Cusp
        Burleith
        DC’s 535 House Neighborhood
        Cathedral Heights
        Do You Know Where That Is?
        Chevy Chase DC
        Not to Be Confused With the Other Chevy Chase
        Cleveland Park
        Coming Back After A Rough Year
        Columbia Heights
        DC’s Most Diverse Neighborhood, But For How Long?
        Crestwood
        An Island of Serenity East of the Park
        Dupont Circle
        The Best of DC (For a Price)
        Foggy Bottom & West End
        Where the Institutional Meets the International
        Forest Hills
        Ambassadors and Adventurous Architecture
        Foxhall Village
        350 Homes Just West of Georgetown
        Friendship Heights
        A Shopping Mecca With a Few Places to Live
        Georgetown
        History, Hoyas and H&M
        Glover Park
        One of DC’s Preppier and More Family-Friendly Neighborhoods
        Kalorama
        A Posh View From Embassy Row
        LeDroit Park
        A Quiet Enclave in the Middle of the City
        Logan Circle
        Trendy Now, But Not By Accident
        Mount Pleasant
        Sought-After Homes Surround Main Street in Transition
        Mount Vernon Triangle
        From Seedy to Sought-After
        Palisades
        The Long, Skinny Neighborhood at the City’s Northwest Edge
        Park View
        It’s Not Petworth
        Penn Quarter/Chinatown
        DC’s Go-Go-Go Neighborhood
        Petworth
        Getting a Vibrancy of Its Own
        Shaw
        The Duke’s Former Stomping Ground
        Shepherd Park
        DC’s Garden of Diversity
        Spring Valley
        A Suburb With a DC Zip Code
        Takoma
        Not To Be Confused With Takoma Park
        Tenleytown
        Not Quite Like Its Neighbors
        U Street Corridor
        The Difference a Decade Makes
        Woodley Park
        Deceptively Residential
        Adams Morgan
        No Longer DC’s Hippest Neighborhood, But Still Loved by Residents

        See more Northwest DC »

        Southwest DC

        The little quadrant that could

        Southwest Waterfront
        A Neighborhood Where A Change Is Gonna Come

        See more Southwest DC »

        Northeast DC

        Profiles of 10 neighborhoods in NE

        Brookland
        New Development Could Shake Up Pastoral Peace
        Deanwood
        A Little Bit of Country Just Inside the District’s Borders
        Eckington
        Not to Be Confused With Bloomingdale
        Fort Totten
        Five Years Could Make a Big Difference
        H Street
        A Place To Party, and To Settle Down
        Langdon
        The Northeast Neighborhood That Few Know About
        Michigan Park
        A Newsletter-On-Your-Doorstep Community
        NoMa
        Evolving from a Brand to a Neighborhood
        Rosedale
        Ripe for Investment Right About Now
        Trinidad
        The Difference 5 Years Makes
        Woodridge
        Big Houses, A Dusty Commercial Strip and Potential

        See more Northeast DC »

        Southeast DC

        6 neighborhoods from Capitol Hill to East of the River

        Capitol Riverfront
        Still Growing
        Hill East
        Capitol Hill’s Lesser Known Neighbor
        Congress Heights
        Gradually Rising
        Hillcrest
        Notable for Its Neighborliness
        Historic Anacostia
        Future Promise Breeds Cautious Optimism
        Eastern Market
        A More European Way of Living

        See more Southeast DC »

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