A recent article on Urban Turf reports that 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.
The article features our Compass’ colleague Maureen Weaver, who showed one of her listings over a two-day period almost 40 times. 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. It resulted in eight offers and was sold for far above asking price.
A house that 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.
Clients are adapting to our new virtual reality with many sales going through completely virtually. Clients are reaching out over the phone or internet, having video sales appointments, touring models virtually and signing contracts via Docusign.