Dual agency, when one real estate agent represents both the buyer and the seller in one transaction, can be fraught with perils and pitfalls.
Dual agency is a bad idea and I won’t do it – and neither should you.
Before I explain my reasons why you should avoid dual agency, let me first list the types of real estate representation that are available when you buy or sell a home:
The Arlington, VA, real estate market remained steady in 2021 with the big news being that home sales increased 27 percent while the average home sales price was up 1.3 percent compared to 2020.
Here’s a look at the 2021 housing market numbers in Arlington:
Arlington Home Sales Were Up 27% In 2021
There were 3,546 homes sold in Arlington County in 2021, a 27.1 percent increase compared to the 2,793 sold in 2020.
The sales rebound in 2021 included the condominium market, which stalled during the height of the pandemic in 2020 as buyers sought more space.
Arlington Home Prices Were Up 1.3% In 2021
While the number of home sales was up strongly, the average home sales price in Arlington in 2021 was relatively flat, up just 1.3 percent overall, to $783,488 versus 2020’s $777,296.
However, price changes vary depending on the type of residence with single-family homes and townhomes showing strong gains and the condominium market slipping.
As with most things, my answer to this question largely depends on who you are and what your goals are, so I’ll break down my responses into homebuyer and home seller-related answers.
While the Coronavirus pandemic upended life in 2020, it did not impact the Arlington, VA, real estate market as much as expected.
The Arlington County housing market remained strong with the number of homes sold in 2020 remaining steady while the average home sales price increased 10.5 percent compared to 2019.
One notable change was the shift to home buyers moving away from purchasing condominiums and instead to buying townhomes as people looked for more space to accommodate home schooling and home offices.
Now, let’s take a little deeper dive into the 2020 housing market numbers:
Arlington County Home Sales Overall Were Flat In 2020
The question I am asked the most recently: How has the coronavirus pandemic impacted the local real estate market? The answer is that the Arlington, VA, housing market remains healthy with prices up but less homes for sale in April. While it has slowed, people are still continuing to buy and sell homes.
Compared to April 2019 the number of homes coming on the market and going under contract in Arlington in April 2020 is down:
* Homes listed for sale fell 18% (279 vs 341).
* Homes under contract tumbled 35% (191 vs 294).
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