A Slight Movement in Market Activity?
I got a call from some buyer clients on Sunday and after they had visited a couple of open houses in the Bethesda area. “There seems to be more people out there,” they reported. “Last weekend, we were the only ones at the open houses…today there were other people looking.” This couple wrote an offer two days later on one of the houses that they had revisited on Sunday. The house has been on the market for over 200 days, but has also had a couple of considerable price reductions. They’re awaiting a response from the seller.
Another buyer couple also wrote an offer this week. The house they selected has only been on the market for about a month, but has already had two contracts “fall thru” after a home inspection. This couple is also awaiting a response from the seller.
In both of these examples, the buyers were in no hurry and have been students of the market for weeks, if not months. Independently, they made the decision that now is a good time to make a move. One couple is a first time buyer. The other has outgrown their current home and are “moving up.”
November and December are historically great months to be buyers…and it looks like this year will be no different.