Sean Clark
Now playing
01:55
See Amazon's HQ2 picks
amazon bessemer worker
Senate Budget Committee
amazon bessemer worker
Now playing
02:07
Hear Amazon employee's allegations of union busting
In an interview with CNN in 1999, Amazon founder Jeff Bezos said he was surprised by Amazon's success.
CNN
In an interview with CNN in 1999, Amazon founder Jeff Bezos said he was surprised by Amazon's success.
Now playing
04:06
In 1999 Jeff Bezos told CNN he was surprised about Amazon's success
Now playing
03:20
Andy Jassy will be Amazon's CEO. In 2019, CNN asked him if he wanted the job
David Ryder/Getty Images
Now playing
00:57
How Amazon's Jeff Bezos spends his immense wealth
Shutterstock
Now playing
04:42
Ever receive a package you didn't order? It could be a scam
Now playing
01:25
This robotaxi from Amazon's Zoox has no reverse function
Now playing
02:52
AWS CEO: Businesses are reinventing rapidly
Amazon
Now playing
00:57
Watch Ring's indoor drone prototype patrol a house
Dr. Michael Pecht of the University of Maryland's Center for Advanced Life Cycle Engineering looks at an AmazonBasics microwave from a customer who said it caught on fire.
Heather Fulbright/CNN
Dr. Michael Pecht of the University of Maryland's Center for Advanced Life Cycle Engineering looks at an AmazonBasics microwave from a customer who said it caught on fire.
Now playing
04:23
Dozens of AmazonBasics product are flagged as dangerous, but many are still being sold
The new Amazon Halo fitness band
Amazon
The new Amazon Halo fitness band
Now playing
01:10
See Amazon's new wearable it says can tell if you're stressed out
CNN
Now playing
07:35
We bought a car seat on Amazon. It shattered in a crash test
TOPSHOT - The US Capitol is seen in Washington, DC on January 22, 2018 after the US Senate reached a deal to reopen the federal government, with Democrats accepting a compromise spending bill. / AFP PHOTO / MANDEL NGAN        (Photo credit should read MANDEL NGAN/AFP/Getty Images)
TOPSHOT - The US Capitol is seen in Washington, DC on January 22, 2018 after the US Senate reached a deal to reopen the federal government, with Democrats accepting a compromise spending bill. / AFP PHOTO / MANDEL NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)
Now playing
02:22
Will the government attempt to break up Amazon?​
Photo-Illustration: Shutterstock/CNNMoney
Now playing
02:41
Can Amazon afford to get into the ad business?
SEATTLE, WA - JANUARY 22: A shopper scans the Amazon Go app upon entetering the Amazon Go store, on January 22, 2018 in Seattle, Washington. After more than a year in beta Amazon opened the cashier-less store to the public. (Photo by Stephen Brashear/Getty Images)
Stephen Brashear/Getty Images North America/Getty Images
SEATTLE, WA - JANUARY 22: A shopper scans the Amazon Go app upon entetering the Amazon Go store, on January 22, 2018 in Seattle, Washington. After more than a year in beta Amazon opened the cashier-less store to the public. (Photo by Stephen Brashear/Getty Images)
Now playing
04:27
Amazon is using AI in almost everything it does
Sofia Ordonez/CNN
Now playing
04:24
What happens when Amazon comes for your business?
(CNN Business) —  

It wouldn’t happen for months, if not years. But Amazon’s eventual arrival in Northern Virginia and Queens has already sent shockwaves through two surrounding real estate markets.

Mara Gemond, a longtime Arlington, Virginia, realtor, never did much business in the dingy cluster of office buildings next to Reagan Airport known as National Landing (formerly Crystal City) — until news broke last week that Amazon would probably be splitting its 50,000-employee second headquarters between there and Long Island City in New York. (Amazon confirmed the location of HQ2 Tuesday.)

All of a sudden, the two-bedroom condo in a 1980s-era building that had been sitting on the market for nearly three months with no offers, even after a price cut, had a flood of interest. Gemond did eight showings in one day, for people who wouldn’t tell her why they were interested — but who she suspects were either investors looking to flip the property or rent it out at an inflated rate, or people from companies planning to locate near Amazon if it moves in.

“It feels like that moment in a horse race where all the horses are lined up in the starting gate,” says Gemond. “They’re just antsy and ready to get going, they’re waiting for that gate to be lifted.”

It’s not just her. The real estate listing website Redfin found searches in the first six days of November grew 345% from the same period last year in National Landing and 659% in Long Island City.

They’re very different markets. National Landing itself has plenty of vacant office space — 23.3% in the third quarter, according to the commercial brokerage CBRE — and very little residential inventory. Most of the recent growth has been in neighborhoods to the south and east. It’s also a short Metro ride across the Potomac River from newly constructed glass-tower neighborhoods in southwest Washington, DC.

Building in Long Island City, on the other hand, has exploded. More rental units have been added between 2010 and 2016 than any neighborhood in the country, an analysis by RentCafe found.

But both markets have seen slowdowns over the past year or so, because of rising interest rates as well as a glut of luxury apartments. The Queens waterfront is now studded with super-tall residential towers that have had to give out months of free rent and other concessions to fill up. Amazon, with its legions of well-paid workers, could bring that to an end.

“It’s incredible news for the rental arena, which had seen a little bit of oversaturation,” says Alexander Pereira, who has been a broker in Long Island City for a decade. “I’ve already been getting bombarded by calls from investors, and brokers with investors who want to do tours in my properties.”

Patrick Smith, a Long Island City-based realtor with Stribling, says he jacked up the price on a condo he owns by 7.5% after hearing the Amazon news, but then decided to hold onto it and rent it out instead. “Buyers are asking if they can make an offer without seeing the apartment,” Smith said.

In the near term, that may be the biggest impact on Amazon’s new host cities: A freeze, as owners wait for higher prices when the influx arrives. Robert Sanders runs a Sotheby’s office in Alexandria, just south of National Landing, and lives in a four-year-old development where million-dollar homes have been taking months to sell. The chatter on the neighborhood Yahoo group has been all about Amazon.

“Everybody’s posting, ‘Hey, what about Amazon, I suggest you hold on to your property,’” Sanders says. “Everything a realtor doesn’t want to hear.”

But that hasn’t stopped the inquiries from would-be buyers — even people who know nothing about the area, and won’t say why they’re interested. “Why all of a sudden have I had four calls in Crystal City?” asked Sanders, who usually queries clients to see if there’s some reason they’re in a hurry to move in. “You always get a reason. Here I’m not getting a reason.”

The wait-and-see attitude may affect development, too. Although the Amazon news may erase any hesitation that investors and lenders may have had about financing new projects in and around Amazon’s locations, nailing down deals will be tough until more is known about the timeline.