I would stretch only when the home and the price both stand up to recent evidence.
If you are tempted to stretch your budget because inventory feels tight in The Fan District, VA, I would slow that thought down. Low supply matters, but it is not the same thing as proof that every higher asking price is justified.
The pressure is real. Supply stood at 1.8 months last month, and typical accepted offers matched asking at 100%. In The Fan District, VA, those conditions can make buyers feel they need to bend quickly, especially when a property checks the right boxes.
I would balance that against the pricing spread. The typical sold price recently was $605,250, while active asking prices were $674,950. That tells me some listings may be asking above what buyers have recently accepted, so stretching your budget should be a case-by-case decision, not your default setting.
Decide your true ceiling before emotions build. Compare the asking price to recent closed outcomes, not just to other current listings. Stretch only for a home that truly earns it. Otherwise, keep your discipline and wait.
