Under Contract After Multiple Offers in Only Six Days
Bristow buyers have a strong appetite for Braemar townhouses. This end unit, garage townhouse at 10158 Pale Rose Loop hit the market on Friday, January 13th (2023) and got immediate attention. Showing requests were rolling in after only an hour on the market. In fact, I wasn’t sure it was going to make it to the Open House planned that Sunday.
While buyers were very interested, the change in their behavior was palpable. No one wanted to act immediately. The Sunday Open House was swarmed with buyers. While another agent in my office hosted it, I popped by and noticed the intense interest just by the abundance of cars not knowing where to park. The neighbors, while probably frustrated, were patient for those two hours. Still, more interest and lots of questions, but no one was ready to step up and make an offer.
Monday, the fifth day on the market, two buyers made offers. There was the possibility of two more, but those buyers were more wary. Not uncommon for buyers in this market. The media runs too many stories about the national statistics and gets buyers thinking there are a ton more homes to hit the market, or a significant decline in prices coming. The former is not necessarily going to happen anytime soon and the likelihood of the latter happening in our market this year is extremely slim. As much as buyers may not want to hear this, the rise of mortgage interest rates has not slowed down demand.
The sellers of this townhouse were very pleased to have two offers to chose from that exceeded their expectations. If all goes according to plan, which is the most probable outcome, it will close the first full week in February.
When you are ready to sell your Braemar townhouse, let’s talk about how you can lift buyer enthusiasm on your property and get the max the market will allow. Since 2005, No One Knows Braemar Better!
Chris Ann Cleland
Associate Broker, Licensed in VA
Long & Foster Real Estate