This week’s Q&A column is sponsored and written by Jillian Keck Hogan of Jillian Keck Hogan Real Estate Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Jillian at 703-951-7655 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.
Question: It’s a New Year and a new decade — what does that mean for the market in Alexandria?
With each new year we all start taking stock of what the new year will have in store for us. For a good number of you, that list includes moving to a new home. That new home might be just down the street or across the world. If you are a homeowner, one of the first questions you may have is how will the market in 2020 impact the sale value of my home in Alexandria?
Here are a few insights on the market to assist you in making the most of your sale in 2020. If interested in learning more, join us at the new ALX Community on Union Street in Alexandria on February 6 for our group round table and wine pairing where we discuss expectations and answer questions on buying/selling in our area. To RSVP Email [email protected].
- Inventory is lower in the month of January and February compared to March-June. The commonly referred to “spring market” actually kicks off the end of February and does not begin to calm down until the end of June. Though sellers tend to think that is the most ideal time to sell, remember that the less the inventory — the more of a seller’s market. For example, The Jillian Keck Hogan Group had a listing go on the market on February 12 of 2019 and sell within the first weekend online with over five offers, one all cash.
- The biggest “no, go” in our area is weather. This could be as large as the snowstorm we had in 2016 or as small as a dusting that closes schools and work for a day. The impact is that buyers stay indoors and do not go out on tour with their agent or get out to visit Open Houses. Our advice, prep your home, take your photos, but wait to click active on your listing until you can confirm that there will be no snow in the forecast for your first week on the market.
- After the “Amazon Effect”, buyers are out there and interested in finding a new home, no matter the season. If the home is priced in line with the last 6 months of comparable home sales, is in good condition, and staged well, you should have no issues in finding a well-qualified buyer quickly. Need some assistance in getting your home in “good condition”, ask your agent for referrals to trusted licensed professionals and also provide suggestions on what projects to prioritize.
- Outside of Amazon, we have a number of other great new developments breaking ground and coming to our neighborhoods. These include Potomac Yard Metro, Wegmans and plans for new Landmark Mall. These large-scale additions to our community assist in home values increasing. To see all that is happening, check out the city’s website https://www.alexandriava.gov/Projects.
- As for the fall market, this can be just a strong as some spring months for sellers. Over the last few years, sellers have continued to see multiple offers on their homes with contingencies that lean more in the seller’s favor.
- This fall does bring a Presidential election in 2020. McEnearney Associates, Inc. has been collecting data on the market impact of big election years. We would be happy to break that down for you at your price point and trends prior to and after elections. If President Trump does not win the election, we can predict an influx of buyers coming to the area and also owners selling to move back to a hometown.
Overall, 2020 is shaping up to be another stand up year for sellers. With the right preparation, marketing plans and at market pricing, home owners can plan to see quick sales with terms in their favor.
If you would like a question answered in our weekly column or to set up an appointment with one of our Associates, please email: [email protected] or call 703-549-9292.
McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314. www.McEnearney.com Equal Housing Opportunity. #WeAreAlexandria
An update to the city’s special events policy intended to make the process simpler wound up creating some confusion at the City Council this weekend. At a meeting on Saturday,…
Attention Del Ray dog owners: The Eugene Simpson Park will reopen to the public in the beginning of next year at the end of more than a year of redevelopment….
Good Monday morning, Alexandria! 🌧️ Today’s weather: On Monday, there is a slight chance of showers after 3pm, with cloudy conditions and a high temperature of around 67°F. The north…
It’s been another week bookended with violence in Alexandria’s West End. On Saturday, a man was shot in the Landmark area during a suspected carjacking. The victim suffered non-life-threatening injuries….
It’s here! The 2024 Alexandria Coffee Guide!
After being in production for the past two years, dealing with the tumultuous changes to the service industry following the COVID environment, and the bittersweet closings and openings of coffee shops, Joyful Tern Publishing has finally released the Alexandria Coffee Guide: 2024 Edition!
The guide best serves locals, transplants and tourists interested in coffee by giving them a curated set of Alexandria’s local shops, excluding such brand names like Starbucks, Dunkin’, Peets and the like. The guide is broken down into multiple regions (Old Town North/Del Ray, Crystal City, Old Town, Alexandria West End, and Eisenhower East) and catalogs the coffee shops within each region, as well as notable details about them and things to do in the surrounding area. The guide provides a concise glossary of coffee culture terms near the end, and a few articles about coffee concepts.
Sometimes mold is easy to spot, but you don’t know how deep inside your walls it has spread. It can grow in sinks, cabinets, and other places you frequent every day. If you find mold, the question remains: Do I call a professional? Thistle Environmental, LLC believes in quality, comprehensive testing.
CALL NOW: (703) 929-4036
The Made in ALX Fall Makers’ Market at Port City Brewing Co. in Alexandria is set for Sunday, Sept. 24!
This is the fall’s most fun sip-and-shop, featuring craft beer from the award-winning Port City Brewing Co. along with food,