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DC, Arlington neighborhoods crack Redfin’s list of most competitive for homebuyers

Two locales in greater Washington have cracked Redfin’s list of the most competitive neighborhoods for homebuyers in 2019 — one in Arlington and one in the District.

The report from the Seattle-based real estate brokerage is based on its proprietary “compete score,” which tabulates data from local multiple listing services to approximate how difficult it is for buyers to close on a home in a specific location.

Perhaps unsurprisingly, 10 neighborhoods in the top 20 are located in and around the Bay Area and Silicon Valley. The Boston suburbs also pop up on the list several times. There are also some unlikely entrants from Michigan and Washington state.

“An influx of buyers from more expensive neighborhoods contributes to competition in these affordable neighborhoods, especially because they can make higher offers than local residents when they sell their previous homes,” Redfin (NASDAQ: RDFN) chief economist Daryl Fairweather said in a statement in reference to some of the unlikely…

Read the full story from the Washington Business Journal.

Sonic Drive-In to open its first restaurant in Northern Virginia’s I-95 corridor

Fast-food chain Sonic Drive-In has filed plans to build a new restaurant in Prince William County, its first outpost along the Interstate 95 corridor in Northern Virginia. The 1,400-square-foot restaurant, with two drive-thru lanes, 12 pull-up ordering stalls and a dining patio, will be located at 4115 Talon Drive in Dumfries, part of the Barracks Row at Quantico commercial development less than a mile northwest of the I-95 interchange at state Route 234. The location “will constitute a flagship Sonic design that will serve as a benchmark for future restaurant drive-thru development,” according to a written narrative accompanying the application, filed by Noah Klein of Venable LLP.
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