September 2021 Real Estate Market Update

Diving right into your market update, as expected, we’ve seen a bit of a slowdown in the late August market with many buyers still on vacation, getting ready for school, or simply burnt out. This slowdown in buyer activity coupled with more listings on the market, whether they be overpriced, outdated, or just late to the game, has yielded a slightly more balanced market. However, this happens every year, so if you’re a seller, don’t worry; we usually see a pick up in activity right after Labor Day and expect that again this year.

In general though, we’ve seen an unbelievable 18% appreciation year-over-year. With the market for condos and luxury homes slowing down, we do expect that number to go down, but only time will tell!

What’s Hot?

While some markets are slowing down and balancing out, certain segments are still considered to be extremely hot with multiple offers if the house is updated and priced right. Here are some recent examples of our listings, or listings our buyers wrote on, that received multiple offers in the past week alone:

1.1M for a home in Willowsford, VA

Multiple offers in for a 500K, single family home in Waldorf, MD

Multiple offers for our listing in the low 700s in Warrenton, VA,

Multiple offers on a 700K, single family home in Manassas, VA on land

What does this tell us? It tells us that the market for modest, single family homes, on land or with a nice lot, is where it’s at! This makes sense given the current “suburban sprawl” – or mass exodus of individuals leaving densely populated areas in search of more living space and overall room to spread out and relax during this unique time. We suspect this trend to continue with many working from home for the foreseeable future.
And lastly, something we’re also keeping our eye on are all the forbearances due this fall. While we don’t expect a lot of foreclosures, these forbearances have the possibility of affecting the market going into next year, but we’ll be sure to keep you updated.

Updates from the Team

A couple of quick updates and reminders before you go:

This past weekend we held our annual crab feast where over 400 of you came out to enjoy the end of summer with us! We had a blast and hope you did too! Thank you so much for the continued support you show our team!

Continuing this month is our monthly seller’s seminar. Held on the first Wednesday of each month, this Wed, Sep. 1st at 6:30pm will be our next! Register at www.JenniferYoungHomes.com or shoot me an email for the zoom link (jennifer@jyhteam.com).

We hope you’ve found today’s info helpful! As always, if you have any questions about the market, whether it be in regard to buying, selling, renting, or even forbearances as mentioned above, please don’t hesitate to reach out! 703-651-5655

Hope this September is a great one!

Jennifer

JUST SOLD! 223 East Mason Avenue, Alexandria, VA 22301

When our buyers set their sights on Del Ray, they were searching for the perfect blend of space, comfort, and charm—and 223 East Mason Avenue delivered it all. With six bedrooms, four bathrooms, and over 3,700 square feet, this thoughtfully updated home offered everything they needed and more. We moved quickly—first to tour, first to write—and secured a winning contract before the weekend. Not only did the home appraise above the purchase price, but our buyers walked away with instant equity. From the sunlit primary suite and gourmet kitchen to the flexible living spaces and beautifully landscaped backyard, this Del Ray gem is more than a home—it’s where memories begin.

JUST SOLD! 7512 Quigg St., Clifton, VA 20124

Jennifer Young Homes just sold this stunning 5-bedroom, 5-bath estate in Balmoral—on what may be the best lot in all of Clifton! After taking over the listing with a fresh strategy, we oversaw a full bathroom remodel, staged the home to perfection, and launched professional marketing that brought in thousands of online views. With 6,300 finished square feet, a chef’s dream kitchen, luxurious outdoor entertaining spaces, and a prime cul-de-sac location just under an acre, this home truly had it all. We hosted a fully catered open house packed with buyers and secured multiple offers in just 3 days—ultimately selling over list price, with no contingencies and a free two-month rent-back for our thrilled sellers. If you’re thinking of selling, let’s talk about how we can deliver results like this for you.

JUST SOLD! 3912 Locust Lane, Alexandria, VA 22310

Jennifer Young Homes is thrilled to share the successful sale of this stunning 5-bedroom, 3-bath colonial in Alexandria’s highly sought-after Wilton Woods neighborhood — and it sold in just 3 days for $50,000 over list price!

JUST SOLD! 7312 Mariposa Dr, Manassas, VA 20112

We just sold 7312 Mariposa Dr in Manassas, a charming split-level home in Oak Ridge Estates with no HOA, a private ½ acre lot, and tons of investment potential! Our wonderful sellers took their time preparing the home, and with a strategic as-is listing and just a simple clean-up, we secured strong terms and an over-list price offer.

September 2021 Real Estate Market Update