https://terringwanggroup.com/wp-content/uploads/2024/10/Commercial-Market-Update-web.mp4 The Washington region enjoys one of the highest median incomes in the nation, supporting a robust consumer base. The retail market remains tight, with an availability rate of 4.3%, the lowest since 2008, and annual asking rent growth at 3.6%, surpassing the 10-year average of 2.7%. However, due to a lack of new...
Market Update
https://terringwanggroup.com/wp-content/uploads/2024/10/Market-Update-27Oct-1.mp4For the week ending October 27, the Mid-Atlantic region saw 5,783 new contracts. With improved affordability this fall, new contracts are up 13.2% compared to the same week in 2023, and are noticeably higher than levels from 2022 as well.There has been a substantial increase in showings for the second consecutive week,...
DC Metro had a median list price of $419,990 for the week ending October 13. The fall season usually sees consecutive declines as the market cools for the year, but there was a 2.1% increase from last week, bumping list prices 6.6% higher than the same week in 2023. Many buyers have returned to the market, keeping prices elevated for longer. There were 5,835 new purchase contracts in the...
For the week ending October 6, the median list price in the Bright MLS service area was $410,450, marking a 1.1% decline and continuing a trend of decreases for the fourth consecutive week. This drop is typical as we transition further into fall. However, despite this seasonal trend, the current median list price remains 2.9% higher than it was during the same...
