Despite the fact that there are clear signs that the housing market is heading toward a more balanced place between buyers and sellers, there are still examples of very heated competition in certain neighborhoods.
And here is one of those examples.
About a month ago, UrbanTurf featured a five-bedroom Chevy Chase home in its weekly Best New Listings roundup. The home offers interesting amenities such as a Tesla charging station and a media room in the fully finished basement. The owner's suite on the second floor includes a walk-in closet, a full bathroom and a sitting area. There is a fully screened porch that looks out onto a backyard featuring a large lawn with stonework and established trees.
Despite this complete package, the sellers and listing agent were surprised by the overwhelming interest in the house.
"We had 84 showings and 16 contracts," listing agent Melissa Estridge told UrbanTurf. "The home was very special and I believe it resonated with a lot of buyers. We too were surprised at the activity and outcome."
The most surprising component of the transaction may have been the final sales price. With 16 offers, the final price for the home was pushed up $740,000 above its original $1.5 million asking price to $2.242 million.
Do you have a wild real estate transaction that you want to share with UrbanTurf? If so, just shoot us an email at editor(at)urbanturf.com.
Photo courtesy TruPlace
This article originally published at https://dc.urbanturf.com/articles/blog/84-showings-16-offers-740000-above-asking/19724.
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