the seller's market thread!

[saltzman143]

MAM, good question. Here's the area where my friend lives: Dupont Circle. I don't know the closed sale data compared to 2005 pricing, etc.

[middle-aged mom]

Originally Posted by saltzman143

MAM, good question. Here's the area where my friend lives: Dupont Circle. I don't know the closed sale data compared to 2005 pricing, etc.

I'll invite a local expert to opine.

[novahousehunter]

I am in the DC area.
I agree a lot of things are going really fast, and with multiple bids, but also for a lot less than 2005.
So in some ways, neither the buyers nor the sellers are happy in this market.

Dupont is one of the hippest, most sought after, and most expensive areas of DC, and as such I would imagine it's holding its value better than the less desirable neighborhoods, but I think all of the DC area was to some degree hit by the bubble burst, because we were so much a part of the bubble.

That may be part of it too. Almost everything I saw was a distress sale, and banks are probably more likely to try the low list price/multiple bid approach than individual sellers.

[In the Pines]

I think some markets are VERY local - meaning even if all of Charleston, SC has a good amount of inventory priced within a certain range, some of the best neighborhoods may only have 1 or 2 homes in that range and they get snapped up pretty quickly. We waited quite a while for a home to come up for sale in my current neighborhood so we could move here. My friend bought a house a few streets over that never hit the market, she just knew the friend of a friend of the seller and made an offer before the "for sale" sign could go in the yard. We're fortunate to have no foreclosures or short sales in my neighborhood to pump up the inventory.

It all depends on where you want to be exactly.