Attempted Sales to Rentals

Nothing has SOLD in the building (*based on MRIS data, as are all other data points mentioned in this blog post) since the end of July. There is nothing under contract as well. On the norm it takes 30-60 days on the norm to get from contract to settlement. So at this rate there will be no SOLD properties, even if one of those listed gets a contract tomorrow, until November or December.
And this time of year isn't really known for the pick up in real estate sales. That independant of itself would be enough to make sellers get the serious face, but then we also have everything that's happening on the news.
So what's going to happen?!
Well no one knows. And anyone who says they do is full of baloney. I haven't met anyone who can predict the future yet.
I do know what is happening right now, and what tends to happen, when sellers can't sell. Those properties become rentals.
#512 + #715 have bothe been listed for sale. They are still listed for sale. However, they are also now recently listed for rent.
While #811, which was listed for sale for 59 days, is no longer available to buy. Yet it is fresh on the market to rent.
Shirlington is still a great place to live (and play!). That's a fact. But here as well as anywhere else, when sellers can't sell they try to rent.