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%Start Sellers drop prices as D C &#x27 s housing market cools - Axios Washington D.C.Log InLog InAxios Washington D.C. is an Axios company. <h1>Sellers drop prices as D C &#x27 s housing market cools</h1>Illustration: Annelise Capossela/Axios The elusive “return to normal” has evaded us in so many ways during the pandemic, but the real estate market is finally getting there thanks to lower demand.
William Brown Member
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%Start Sellers drop prices as D C ' s housing market cools - Axios Washington D.C.Log InLog InAxios Washington D.C. is an Axios company.

Sellers drop prices as D C ' s housing market cools

Illustration: Annelise Capossela/Axios The elusive “return to normal” has evaded us in so many ways during the pandemic, but the real estate market is finally getting there thanks to lower demand.
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Harper Kim 4 minutes ago
Why it matters: D.C.’s cooling market is giving buyers more control. What’s happening: Inflation...
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Why it matters: D.C.’s cooling market is giving buyers more control. What’s happening: Inflation and higher interest rates have prompted buyers to slow their homebuying process.
Amelia Singh Moderator
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Why it matters: D.C.’s cooling market is giving buyers more control. What’s happening: Inflation and higher interest rates have prompted buyers to slow their homebuying process.
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Sofia Garcia 1 minutes ago
The decrease in competition means that, unlike earlier in the pandemic, buyers are less likely to be...
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Andrew Wilson 4 minutes ago
As a result, sellers generally can’t expect to get as much for their homes as they would’ve earl...
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The decrease in competition means that, unlike earlier in the pandemic, buyers are less likely to be pressured into waiving contingencies and appraisals, Christine Walker an agent with CENTURY 21 Redwood Realty, tells Axios. Additionally, decreased demand means bidding wars are far less common, according to BrightMLS.
Nathan Chen Member
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The decrease in competition means that, unlike earlier in the pandemic, buyers are less likely to be pressured into waiving contingencies and appraisals, Christine Walker an agent with CENTURY 21 Redwood Realty, tells Axios. Additionally, decreased demand means bidding wars are far less common, according to BrightMLS.
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Lucas Martinez 13 minutes ago
As a result, sellers generally can’t expect to get as much for their homes as they would’ve earl...
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Oliver Taylor 4 minutes ago
Yes, but: Because of higher interest rates, buyers have less buying power and may still have high mo...
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As a result, sellers generally can’t expect to get as much for their homes as they would’ve earlier this year. So, they’re entering the market at lower price points or lowering their listing price after sitting on the market for too long.Roughly 40% of listings currently on the market in the D.C. area have undergone a price reduction, .
Alexander Wang Member
access_time 12 minutes ago
As a result, sellers generally can’t expect to get as much for their homes as they would’ve earlier this year. So, they’re entering the market at lower price points or lowering their listing price after sitting on the market for too long.Roughly 40% of listings currently on the market in the D.C. area have undergone a price reduction, .
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Nathan Chen 7 minutes ago
Yes, but: Because of higher interest rates, buyers have less buying power and may still have high mo...
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Yes, but: Because of higher interest rates, buyers have less buying power and may still have high mortgage payments.What they’re saying: “A house should be on the market for two weeks. And there should be a little bit of room to negotiate between buyer and seller,” Greater Capital Area Association of Realtors president Harrison Beacher tells Axios.
Joseph Kim Member
access_time 5 minutes ago
Yes, but: Because of higher interest rates, buyers have less buying power and may still have high mortgage payments.What they’re saying: “A house should be on the market for two weeks. And there should be a little bit of room to negotiate between buyer and seller,” Greater Capital Area Association of Realtors president Harrison Beacher tells Axios.
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Liam Wilson 1 minutes ago
“You shouldn’t have to waive everything and sprint within hours to submit an offer.” Get more ...
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“You shouldn’t have to waive everything and sprint within hours to submit an offer.” Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member. <h2>More Washington D C stories</h2>No stories could be found Get a free daily digest of the most important news in your backyard with Axios Washington D.C..Subscribe Support local journalism by becoming a member.
Madison Singh Member
access_time 12 minutes ago
“You shouldn’t have to waive everything and sprint within hours to submit an offer.” Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.

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No stories could be found Get a free daily digest of the most important news in your backyard with Axios Washington D.C..Subscribe Support local journalism by becoming a member.
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Jack Thompson 6 minutes ago
Sellers drop prices as D C ' s housing market cools - Axios Washington D.C.Log InLog InAxios Was...

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