We know all real estate is local, and market conditions vary widely from community to community. We have taken a comprehensive look at the dynamics throughout the metro area (Alexandria; Arlington County & Falls Church City; Northern Virginia; Loudoun, Fauquier & Prince William counties; Washington, D.C.; and Suburban Maryland) for the first half of 2018 with a level of detail you won’t find anywhere else.
The Washington metro area has a strong real estate market characterized by remarkably low inventory, so we’re a little puzzled by the frequency of “off market” listings – those listings that are not put in the multiple listing system (MLS). One may hear them referred to as private exclusives or pocket listings, but under either banner these are homes that are not exposed to the broadest possible market.
In a market where buyers are clamoring for choices, why would a seller intentionally choose to do that?