Washington, DC – Market Report 11/20/12

20 Nov
November 20, 2012

Years ago as the holiday season approached, we looked forward to going “downtown” by trolley car to view the windows in the large department stores, Woodies, Hecht’s and Garfinkles.  They were always a vision of delight with the animated figures and glorious fairyland scenes.  Although these days are long gone, Washington, D.C. with its many neighborhoods is still a wonderful place to live.  The “District” as it is commonly called is the capitol of the United States and as such is a vibrant city.

The four quadrants of the city, NE, NW, SE, and SW are all comprised of neighborhoods that range from low income to ultra-expensive.  Unique areas such as Capitol Hill and Georgetown as well as Embassy Row are all part of the irreplaceable city many people call home.

The places of interest in this wonderful city include – The National Zoo, the art galleries, museums, government buildings, waterfront, monuments, shops, elegant hotels, theaters, and so much more.

From condominiums to mansions, you will surely find something you love for your next home.

Housing Market Statistics for October 2012

Statistic Values YoY MoM
Total Sold Dollar Volume $280,139,089 +33.63% +2.94%
Closed Sales 527 +25.18% +4.15%
Median Sold Price $445,000 +11.28% +6.59%
Avg Sold Price $531,573 +6.75% -1.16%
Avg Days on Market 51 days -30.14% -20.31%
Avg Sold to Orig List Ratio 96.66% +2.2% +0.21%

The housing market is slowly creeping up.  Median Sold Price has increased 11.28% to $445,000 over this same time last year.  The Median Sold price is also up 6.59% over last month.  Days on the Market continue to fall as inventory continues to shrink.  The news flash here is if you are thinking about selling your home in the District of Columbia – do it now!  Call your local Avery-Hess agent and get your place on the market as soon as possible.  Buyers are just sitting on the side line, waiting…  Waiting to take advantage of the historically low interest rates – and they maybe dreaming of a home just like yours.

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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