Washington, DC – Market Report 6/21/11

21 Jun
June 21, 2011

Looking back at the month of May, 2011; the real estate statistics for Washington, DC seem muddled.  With the Total Sold Dollar Volume at $325,048,359, showing a loss of -5.05% over this same time last year and up +16.95% over the month before.

I felt that something a little more visual would put things in perspective.

Washington, DC Median Sold Price

The Median Sold Price for May 2011 in DC is $429,000 this is up +11.57% over last year and up +7.52% over last month (April).  If you look at the chart above the Real Estate Market in Washington, DC has remained constant.  Despite all the negativity in the press – this does not look so dramatic.

Washington, DC New Pending Sales

New Pending Sales are not typically measured.  As you can see May 2011 was a very active month.  These Sales will close, typically, in June and July.  I expect the number of Sold homes to increase by the next time I report on Washington, DC.

With Interest Rates still at Historic LOWS – it remains an excellent time to purchase Real Estate in Washington, DC.

 

More about Washington, DC –

HHH (hot, humid, hazy) is how Washington is described during the summer, but don’t let the weather keep you from enjoying all that Washington has to offer.  There are fabulous museums and art galleries along the Mall that are free.  The Newseum is absolutely fabulous and one can spend days there checking out all the exhibits.

Take a refreshing walk around Rock Creek Park where even on the hottest days you can relax in the shade of the large old trees and picnic with family and friends.  A cool sail along the Potomac aboard the Odyssey is a wonderful way to spend an evening with dinner and dancing.

Any weather is fine for a show at one of the many theaters in Washington where both Broadway and local casts perform for you.

And don’t forget visiting the wharf along Maine street to buy fresh seafood including Chesapeake Bay crabs for that afternoon crab feast where even the heat is forgotten when friends get together to enjoy the area’s best known summer treat.

Whatever the temperature or weather conditions, don’t miss a trip to one of the many features Washington has to offer.

Market data and commentary provided by Kathy Fleskes, Managing Broker & Serena Toro Administrative Manager, Rockville Regional Office.

Search for homes in all of the DC Metro: www.averyhess.com

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