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
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.
Looking at the Washington, DC housing prices in comparison to this time last year – everything seems to have increased. Total Sold Dollar Volume is up 4.65%. Average Sold Price is up for February to $465,272. I don’t like to see the Days on Market increase, but this maybe seasonal.
Did you know that the number of days on the market has dropped to an average of 78 days? This is down 8.24% since last year; the reason is the number of homes on the market has decreased. Less inventory means HIGHER PRICES. We are not out of the woods yet but it is getting better
Washington DC seems to attract a large number of young professionals who are first home buyers looking to take advantage of the $8000 tax credit, as well as a growing number of “empty-nesters” moving into the area for the conveniences it affords. Both groups are drawn by the availability and proximity of theater, sports events, shopping and the many fine restaurants from which to choose.