Spring is in full swing and with it comes rain, flowers and lots of....home tours. Realtors® are revved up to keep pace with the number of buyer and seller clients they're serving.
Inventory is extremely low and the amount of buyers is growing rapidly. Within Alexandria's niche market, there is a clear trend correlated to the homes that are going under contract immediately versus properties that may become stale after increasing days on the market.
What's the secret? According to the National Association of Realtors, Millennials continue to be the largest share of home buyers - an aggregate comprising about a third of the market. These buyers have an aspirational Pinterest-like vision of their future home; with little disposable cash, they are gravitating towards turn key homes. Properties with updated kitchens and bathrooms are in high demand and selling more quickly than comparably sized homes without recent updates.