Multiple Offers, The new normal?

Posted by Vlad Dallenbach on Tuesday, February 19th, 2019 at 5:22pm.

We are working with a low listing supply. The Washington DC Metropolitan real estate market is moving extremely fast. In some neighborhoods, cities or zip codes some listings do not last more than a week.

DC Row-Houses for Sale

 All-cash, over list price, no contingencies offers are more and more common in our current real estate market. It is not a pleasant experience for home-buyers nowadays. Multiple offers situation, Highest and Best Offers, Escalation Clause, Bulletproof Contracts are some of the terms buyers are getting used to. Some searches are looking more and more like the movie " Mission Impossible"  these are some of these home-searches: 

Washington DC one bedroom condo in the price range of $ 300,000 to $ 450,000.
North Arlington condo 1 bedroom from $ 300,000 to $ 400,000.
Old Town Alexandria VA 1 bedroom condo $ 300,000 to $ 450,000.
Washington DC condo  2 bedrooms - 2 bathrooms from $ 400,000 to $ 600,000.
North Arlington condo 2 bedrooms - 2 bathrooms from $ 400,000 to $ 600,000.
Old Town Alexandria VA condo 2 bedrooms - 2 bathrooms $ 400,000 to $ 600,000.


Multiple offer situations in the Washington DC Metropolitan housing market are more present over the last couple of years. This is basically fueled by 2 factors :

*.- Low inventory of homes for sale.

*.- High level of buyer demand. 

DC Condos for Sale
It does not get any easier when it comes to row-houses or townhouses in DC, Arlington and Old Town Alexandria. The market has a very low supply of listings and some price ranges seem to have a big concentration of buyers for specific listings. Experts claim that we are working with a  1.7 month supply of homes on the market.To work in a healthy market we should be at a 6 moth supply of homes.  Some home-buyers like to search by themselves others rely on Buyer's agents to help them find the right home.  Patience is definitively needed to find the right home.  
Above Asking with No Contingencies is the norm of the DC Housing Market. Most offers have  zero contingencies; even the ones that were getting financing, remove the contingency. This heated competition in the market has made new construction an solid option for buyers, as the ability to select a home often six months prior to delivery, with more patience and a nicer pace.


Price, High to Low
73 Properties Found. Page 1 of 13

300 South Union St #residence 1.403


MLS#: VAAX245608
3 Bed, 2½ Bath
2790 Sqft

Photo of Listing #VAAX233488

217 S Fairfax St


MLS#: VAAX233488
6 Bed, 6½ Bath
8030 Sqft, 0.23 Acres

300 South Union St #residence 1.301


MLS#: VAAX245606
3 Bed, 2½ Bath
2920 Sqft

506 Cameron St


MLS#: VAAX246806
8 Bed, 8½ Bath
5132 Sqft, 0.08 Acres

300 South Union St #residence 2.505


MLS#: VAAX245612
2 Bed, 2½ Bath
1930 Sqft

Photo of Listing #VAAX249284

225 Strand St #505


MLS#: VAAX249284
3 Bed, 3 Bath
2675 Sqft

Price, High to Low
2 Properties Found.

801 Pitt St N #1004


MLS#: VAAX248670
1 Bed, 1 Bath
787 Sqft

Photo of Listing #VAAX249494

1251 E Abingdon Dr #1112


MLS#: VAAX249494
1 Bed, 1 Bath
638 Sqft



Vlad Dallenbach | Associate Broker | TTR Sotheby's International Realty  |  C: 703.906.3236 | O: 202.871.8822

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