This week’s Q&A column is sponsored and written by Philip G. Matyas, Associate Broker of The Shannon Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Philip at 703-507-8655 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.
Question: Which Old Town real estate office sold the most houses in 2019?
Answer: As anyone who was looking to buy or sell a home last year knows, 2019 was a fast-paced, high-demand home market that required in-depth local knowledge and dynamic, steadfast action from their buyer or seller agent to achieve success. For those looking to purchase or sell a home in 2020 the signs point to an even greater need for experienced agents to help advise, navigate and negotiate through an anticipated frothy market.
For 2019, McEnearney Associates, Inc., Old Town office hit the trifecta. With a total sales volume in the City of Alexandria of over $433,500,000* for all of last year, McEnearney topped the nine other local offices. McEnearney’s influence and experienced sales groups far outpaced the second and third closest competitors who, when combined, still had a total sales volume significantly less than McEnearney’s. (*Compiled from the Bright™ multiple listing service)
Breaking down McEnearney’s total sales volume into categories of listing and selling of homes, the Old Town office listed 300 homes/units and had a total sales volume for listings of over $244,500,000. Again, the combined second and third closest competitors’ listing sales volume and number of homes/units listed was less.
To finish the trifecta, McEnearney helped clients buy 214 homes/units with a sales volume of over $188,900,000, once again outpacing their two closest competitors combined numbers and sales volume.
So, what’s new at the start of 2020?
I can answer that question with a question. Did you see my article last month (ALXnow December 18, 2019) on the effect a mild winter could have on our local market? It’s worth reading again as in the last 30 days people walked around in shorts and interest in homes and sales heated up from Old Town to McLean to Mount Vernon. Along with the change in weather came some change to buyer strategies.
One of The Shannon Group’s agents listed a home in the Historic Old Town District on December 27 and already closed on it on January 13 — two days ago. In a separate transaction also in Historic Old Town, a mid-December buyer client of ours will be closing on a home, as this article goes to print. (It has been a mild winter, hasn’t it?)
In this hectic, extremely competitive environment, a significant number of deals are made before a property ever publicly reaches the market. There is a trend beginning with owners who do not want to conduct open houses, have other personal concerns for the sale of their home or desire a different timeframe to buy or sell into rather than the current market. They, also, are looking for the buyer who wants to “get in ahead of the crowd.”
Some of these owners with their special criteria may contact me to strategize and coordinate their special needs and timing. Linking a buyer with such an owner is one way deals are occurring more often, but they only happen because of the inside, local knowledge and coordination of the agent.
For example, if you know of any properties as noted below, we have buyers for a:
- 3 Bed, 2+ Bath Townhouse within 1/2 mile of King Street Metro
- 2 Bed, 2+ Bath Condo in the Heart of Old Town
- 4 Bed, 3+ Bath Single Family Home between Potomac River GW & Parkway
- 2 Bed, 1 Bath Condo in Park Fairfax or Fairlington
And if you know any buyers looking this spring, we have a home in the SE Quadrant of Old Town and a home in Villamay.
Bring your home buying or selling needs to the Old Town experts, Joan Shannon and Philip G. Matyas. Contact us by email or call 703-507-8655 to set up an appointment to discuss your real estate needs and view homes from Historic Old Town to Mt. Vernon and beyond on our website Shannon-Group.com.
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