September 24, 2017

March 2016 DC Region Real Estate Market Data

According the latest report from Real Estate Business Intelligence (RBI), overall home prices in the D.C. Metro area were nearly the same (just 0.3 percent less or 399k rather than 400k) this past March compared to March 2015, but both listings and sales volume are up. With interest rates at historic lows, both increased inventory and stable prices are good news for sellers and buyers. Of course, price changes vary from one neighborhood to the next. CLICK HERE to get a detailed report for … [Read more...]

DC Metro Market is Up: More Sales, Higher Prices

Real Estate Business Intelligence reports: "September prices up across the DC Metro area, led by 10 percent gains in the District, by Corey Hart The Washington, D.C. housing market began the fall season with very strong sales activity. Pending sales are at their highest September level in at least a decade, while sold activity is at the highest September level since 2006. Median sales prices rose slightly and overall inventories increased, although the inventory growth rate continues to slow. … [Read more...]

Double-digit gains in DC Metro contract activity in August | RBI

Real Estate Business Intelligence reports: "The Washington, D.C. Metro housing market ended the summer season with strong sales activity.  Pending sales are at their highest August levels in a decade, while sold activity is at the third highest August level in a decade.  Median sales prices dipped slightly, overall inventories increased, although at a slightly slower pace than recent months, and median days-on-market increased to 25 days. The 4,515 closed sales in August represent a 7.8% … [Read more...]

Higher Prices, Inventory, and Low Rates Benefit Both Buyers and Sellers

Home prices are up, but so is inventory in Northern Virginia, which is proving to help both buyers and sellers as we move into the dog days of summer. With 30-year fixed rates as low as 3.8 percent, conditions are ripe for continued steady activity as we head into the fall. Although average home sale prices in June for Northern Virginia were virtually unchanged from June 2014,  overall year-to-date home sale prices are up more than 2 percent according to RealEstate Business Intelligence … [Read more...]

DC Region’s Hot Real Estate Market

Home sales in the D.C. market are off to a great start this year. According to Real Estate Business Intelligence (RBI), all numbers look quite positive comparing March of this year to March 2014—from higher prices to greater inventory for home buyers! Year-to-date comparisons are also very positive. While Falls Church City is an area with significant price declines, the numbers there fluctuate more because the small region has fewer overall sales than other parts of the area. (Prices jumped … [Read more...]

Morgage Rate Update: Buy Now or Pay Later?

In a recent piece for The Washington Post, Kathy Orton highlights two studies that point out something I've been alerting my clients about recently: the impact of potentially rising interest rates. Truth be told, we've been hearing for years from mortgage experts and market analysts that mortgage interest rates will rise considerably in the near future, yet rates remain at historic lows. It is true that  we currently don't have the absurdly low 3.5 rates that we had for 30-year mortgages in … [Read more...]

D.C.-Metro Housing Market Shows Positive Long-Term Trend

In this spring of 2013 the real estate market was alive and kicking. Prices were ascending, and houses were moving pretty quickly. For many people, spring 2014 proved disappointing in comparison, but  long term trends are the more important indicator, and we have good news there. The five-year trend shows median prices in the D.C. metro region moving upwards, according to data compiled by Real Estate Business Intelligence (RBI data is used for all charts in this post). The first chart here … [Read more...]

D.C. Real Estate Market Shows Prices Higher, Low Inventory

It’s impossible to predict the direction in which any real estate market will move, but looking at the numbers from the recent past, home prices are up, while inventory remains limited in the D.C. region. According to Real Estate Business Intelligence, the “total sold dollar volume” in February was up nearly 6 percent compared to February 2013. Median sold price was up 5.6 percent and average sold price was up 9.7 percent over the same period. Speaking to limited inventory, however, the … [Read more...]

DC’s Hot Housing Market Unlikely to Boil Over

The D.C.-metro real estate market continues its recovery, having reached its highest September median sales price in six years, according to Real Estate Business Intelligence (RBI). Although the supply of houses for sale remains tight, listings increased 16.5 percent from this time last year, and homes averaged 17 days on market before going under contract this past September—the lowest number of days on market since 2005, reports RBI. However, according to Zillow economist Stan Humphries, … [Read more...]

Market Update: Prices Rising, Low Inventory

Demand for housing remains strong in the D.C. Market yet inventory remains tight, according to the latest data presented by Real Estate Business Intelligence (RBI): "The overall high demand and low supply contributed to median sale price gains within the region and resulted in the highest August-level median sales price in eight years. The median days-on-market continues to be historically low, and is now at its lowest August-level since 2005. Rising prices and strong demand may encourage new … [Read more...]

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