7 Features Buyers Are Prioritizing in This Housing Market

Spring real-estate activity is uneven, with some homes receiving many offers quickly while others see little interest. Price drives much of the divide, with single-family homes in the $1.3 million to $1.6 million range and townhouses around $600,000 to $800,000 performing especially well. Buyers are more selective than in prior years and are less willing to waive contingencies or join bidding wars, favoring smart, controlled decisions. Fully renovated, move-in-ready homes are preferred beyond basic updates, with updated kitchens and baths and fewer concerns about deferred maintenance, dated systems, or homes that feel like projects. Concerning inspections can lead buyers to walk away. In-demand neighborhoods emphasize walkability, access to trails, waterfront, restaurants, parks, city amenities, and convenient Metro access.

"“Normally, everything sells this time of year,” says Blake Davenport of TTR Sotheby's International Realty. Yet, perhaps due to increased interest rates and economic uncertainty, this year's spring real-estate market is not normal. “Some homes are getting ten to 15 offers the first weekend,” Davenport says, “while others are sitting with little to no activity.”"

"Allison Goodhart DuShuttle of Compass describes it as “a tale of two markets.” Driving the dichotomy is price. According to Davenport, single-family homes between $1.3 million and $1.6 million and townhouses around $600,000 to $800,000 are especially hot. Other factors? As always, location and condition."

"Compass's Erich Cabe says the market is a lot more buyer-friendly than it was a few years ago, despite a low inventory that can work in a seller's favor. Buyers can be more selective than they've been, Davenport agrees, and many are more reluctant to waive contingencies or take part in bidding wars. “There's a bigger focus on making smart, controlled decisions instead of rushing,” he explains."

"“Move-in ready” as a selling point is not enough-buyers in this market are looking for more, says Jennifer Knoll of Compass: “They want renovated homes- beyond needed renovations.” Goodhart DuShuttle says that at a minimum, they're seeking updated kitchens and baths. “Deferred maintenance, dated systems, or homes that feel like a project are much bigger hurdles right now.” Accordingly, she's seeing more buyers walk away from deals altogether after concerning inspection results."

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