Amazon HQ2 is adding $200,000 to Crystal City home prices
Almost as soon as the news hit the wires, those in local real estate responded with ads suchcrying out,"Buy Now Before Amazon Arrives" and users of Zillow began"favoriting" homes at a higher rate than anywhere in the greater D.C. area. A rep from Zillow told me that for Arlington as a whole , favorites on condos increased 12.7% in the two months after the announcement , while favorites on condos for the D.C. area had decreased 1.9% in the same time frame.
Only 11 home sales took place in July , which normally wouldn't be much to draw a trend from. But the fact that prices are already an extra six figures higher than just two months prior is significant. The fact it took place in the slow month of July? Even more so. Additionally, this was the first month in the past ten years that showed median prices closing above their asking prices, which is usually a sign of bidding wars taking place.
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