March’s Real Estate News & Updates
Explore the latest trends and forecasts for the real estate market and more!
March Market Forecast
Our area’s housing market began the year with a cautious tone. A new Presidential administration and unexpectedly high mortgage rates contributed to a slower start. Although closed sales increased compared to last year, new pending contracts dropped by 6.4%. Showings decreased by 6.5% from January 2024, and listing activity was down by 4.1% compared to the previous January.
Buyers are taking their time, with the median days on market extending to 23 days—three days longer than last year. Home prices continue to rise, though the growth rate has slowed.
As the year unfolds, prospective buyers and sellers face uncertainties. New policies could significantly impact the local market, but the effects remain uncertain. Higher-income buyers may fare better in the upcoming spring market, while first-time and moderate-income buyers continue to grapple with affordability challenges.
Again - purchasing real estate is a significant decision, and it's essential to have an experienced realtor by your side! With expertise in navigating the various ups and downs of the market, we are dedicated to crafting a personalized plan that aligns with your unique goals and circumstances—no matter how they change. Let's discuss how we can work together to achieve your real estate goals!
March Home Maintenance Checklist
Spring kicks off on March 20th this year! Whether we're still seeing some snow or spotting those first flowers peeking through, warmer days will be here before we know it. It's the perfect moment to dive into some spring cleaning, brighten up your space with fresh blooms, and, if you can, get your hands dirty in the garden!
Refresh The Entryway:
Store winter gear, create space for spring footwear, update doormat, organize outerwear storage, stock umbrella holder
Clean Patio Furniture:
Scrub outdoor furniture to remove grime, wash outdoor cushion covers, replace worn outdoor furniture
Ensure Gutters and Downspouts are Cleaned Out:
Complete this early to prevent spring rain damage. Ensure they are clear to direct water away from your foundation, avoiding potential issues
Calling All Animal Lovers:
Get Ready for the Super Pet Expo!
Dulles Expo Center 4320 Chantilly Shopping Center
March 14th - 16th
The Super Pet Expo combines entertainment and education in a showcase of animal talents and attractions! Shop for pet products from small businesses, play with your leashed pets, and learn about adoption from local rescue organizations at this pet exhibition!
Client Spotlight:
How We Prepped A Serene Escape
Success in the Market: A Client's Journey in Marshall, VA
We are thrilled to highlight the incredible journey of our clients who entrusted us with preparing their charming cottage in Marshall, Virginia, for the market. Nestled on over six acres of picturesque landscape, this enchanting 2-bedroom, 2-bathroom retreat captivated potential buyers from the moment it hit the market.
With a keen eye for detail, we worked closely with our clients to showcase the unique features and rustic charm of their home. From the reclaimed doors and custom kitchen cabinets to the inviting stone fireplace, every element was highlighted to create an atmosphere that resonated with buyers. The breathtaking scenic views and expansive wrap-around deck were emphasized as key selling points, allowing prospective buyers to envision their serene lifestyle in this idyllic setting.
Our marketing strategy paid off, resulting in a flurry of interest and multiple offers shortly after listing. The combination of modern updates—such as a new Generac generator, a contemporary deck, and freshly painted exteriors—along with the allure of the nearby attractions helped position this property as a must-see.
Ultimately, our clients were thrilled to receive a sale price that exceeded their expectations, going under contract at $25,000 over the listing price. This successful outcome not only reflects the hard work and dedication involved in preparing the home for sale but also the strong demand for unique properties in such a desirable location.
We are proud to have played a role in this journey and are excited for our clients as they move forward to their next chapter. Their story is a testament to what can be achieved with the right preparation and a strategic approach to the market.
Homebot Mobile App:
Enhance Your Real Estate Experience
It's your essential companion for homeownership
Have you tried the Homebot mobile app? It offers unique mobile features to help you make informed decisions and maximize your investment.
Homebot is an innovative mobile app designed to empower homeowners with the tools and insights needed to maximize their home's wealth potential.
With Homebot, users can easily track their home’s value, monitor equity growth, and receive personalized recommendations for refinancing, home improvements, and investment opportunities. The app provides a user-friendly dashboard that aggregates vital information, enabling homeowners to make informed financial decisions with confidence.
If you’ve already set up your Homebot account via email, find and download the app directly from the Apple or Android app stores.
In this case:
Use the same email address associated with your Homebot digest
Enter the 6-digit code sent to your email
Download the app now—it's an invaluable resource! If you have questions or need help getting started, email us at clientcare@redefined.realestate
