HayesWood Homes

03/31/2024

Beautiful Easter Sunday in Beaufort, SC

07/31/2023

Contract activity for the week of July 23 – 29, 2023 in the Metro DC area fell by 17.4% compared to the same seven-day period last year.

Key Takeaways:
• Last week’s heat didn’t help contract activity, but there were still over 1,000 homes that went under contract.
• Homes sold a little faster than this time last year, especially in the Virginia jurisdictions. Homes in Northern Virginia sold, on average, five days faster than last year. Prince William homes sold six days faster, and Loudoun homes sold three days faster.

Why it Matters:
• The Federal Reserve raised interest rates again last week, and even though that doesn’t directly impact mortgage rates, it has a psychological effect on buyers already facing significant affordability headwinds. This wasn’t the news we were hoping for.
• New listing inventory continues to lag contract activity. There were 113 fewer new listings last week than new contracts, and 39.7% fewer listings came on the market than last year.

07/27/2023

McEnearney Associates profiles the most important market indicators for the DMV area every month! This includes:

• contract activity
• interest rates
• inventory
• affordability
• direction of the market

The report highlights why these numbers are important and what they mean for the future of the real estate market. For a copy of the full report, visit mcenearney.com/market-in-a-minute.

07/25/2023

Take a look at the newly listed homes at McEnearney Associates! To view the full list, please visit mcenearney.com/new-real-estate-listings.

07/24/2023

Contract activity for the week of July 16 – 22, 2023 in the Metro DC area fell by just 4.7% compared to the same seven-day period last year, and two jurisdictions posted modest increases.

Key Takeaways:
· On average, homes sold three days faster last week than a year ago and sold considerably faster than the equivalent period of 2018, 2019, and 2021.
· New listing inventory continues to fall, with 44% fewer new listings last week than last year.

Why it Matters:
· The gap between buyer activity this year vs. last year is narrowing. Earlier in the year, weekly contract activity was typically off 25% - 30%, which has slowly but steadily dropped over the last two months.
· This narrowing is partly due to buyers getting more used to the higher interest rate environment. The market performance was more sluggish this time last year than earlier in 2022 because of the shock of those rate hikes. We expect the gap to disappear by the end of the summer.

07/21/2023

Take a look at this weekend's open house guide! For more information on these homes, visit mcenearney.com/open-houses-new.

07/17/2023

Contract activity for the week of July 9 – 15, 2023, in the Metro DC area fell by 10.3% compared to last year's seven-day period. That's a little better than the previous week's 11.2% drop, and two jurisdictions posted increases, and one remained the same.

Key Takeaways:
• Mortgage rates remain stubbornly high, bumping to almost 7% last week. However, the difference from rates this time last year is just 1.5%.
• Buyers who haven't been forced to the sidelines because of these high rates seem to be getting used to today's reality.

Why it Matters:
• As we have noted before, this high-rate environment significantly impacts inventory. Contract activity was off 10% - but new listing inventory was off over 40% again. Many homeowners aren't willing to give up their current low-rate mortgages.
• In this tight inventory environment, homes are selling almost as quickly as in the peak periods of the post-COVID boom. The average was 22.8 days last week, 22.3 days this week last year, and 19.2 days in 2021.

07/16/2023

Just Listed!

This five-bedroom, three-and-one-half bath brick colonial sits on a gorgeous six-tenths of an acre professionally landscaped & cared for lot. Over the last twenty years, the owner has addressed nearly everything. It is truly spectacular.

On the main floor: There is a family room off the pretty kitchen w/remote controlled gas fireplace, an oversized laundry room, formal living & dining rooms, plus a lovely sunroom addition with windows on three sides that walks out to the deck and overlooks what feels like your own park - all next door to the dedicated nature park that will never have anything built on it. Without a house next door to the right and the extra distance to the house on the left, it is a super quiet location.

The upper level includes four spacious bedrooms and two full baths. The lower level that walks right out to the backyard features a rec room, a 5th bedroom, a full bath, a large storage closet, a utility room with storage, and access to yet another storage area/potting shed that was created with the two-level brick addition.

An attached two-car garage (garage doors are 2 yrs old + 2 automatic openers are 2 yrs old) is just off the kitchen. Access to the partially floored attic is from pulldown stairs in the garage (a thermostat controls the attic fan).

Want to learn more about this home? Send us a DM 📩 or comment below! 👇

07/14/2023

Take a look at this weekend's open house guide! For more information on these homes, visit mcenearney.com/open-houses-new.

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07/12/2023

School's out for summer, and the DMV has much to offer locals and visitors. You can get outdoors and soak up the sun or cool off on the hottest days in a world-class museum. Check out our list of area events this month, and we hope you find something to enjoy with family and friends. https://www.mcenearney.com/blog/top-july-events-around-the-dmv/