Happy February! Things are hoppin’ in the DC Metro Area Real Estate world as we move into the spring market. Inventory is low and competition is hot – so let us show you what’s going on and what that means if you are thinking of buying, selling, or investing in real estate! As always, thank you for the opportunity to be your trusted advisors in the real estate space. We want to serve you and the...
Happy 2024 everyone! With every new year comes new adventures and opportunities, and we are excited to see what this year has in store for you. Now there is a lot of talk about the real estate market in the DC area, especially since it’s an election year. So let us show you what’s happening now and give you our advice if you are thinking of buying or selling a home. We’re always here to be your...
Hey everyone! Happy Thanksgiving and welcome to our Market Update for November 2023! Let’s start out with some great news!Inflation numbers were recently reported at 3.2%! This is a huge decrease from the high of 9.1% last year, which caused the government to raise interest rates to slow down inflation and should lead to a decrease in mortgage rates in the future.And we have seen that a little already....
In the current landscape of the DC Metro Real Estate Market, amidst its dynamic changes, we recognize that global events, particularly the conflict between Palestine and Israel, are profoundly affecting numerous families within our community. As these situations evolve, our commitment remains steadfast in understanding and enhancing how we can best serve and support our neighbors during these challenging...
After the sequence of increases in mortgage rates that commenced in March 2022, the intensity of the D.C.-area housing market subsided as potential buyers held off in anticipation of lower rates, reduced prices, and a rise in inventory. However, with interest rates experiencing another upturn in 2023, many buyers and sellers are recalibrating their expectations to adapt to a new normal in which inventory...
Real Estate Market Update 🏡📊: Here's the latest scoop for the week ending September 3, 2023! 📆 🏠 Listings Holding Steady: Despite a limited supply in the D.C Metro Area, new listings are down just 15.2% from last year, with 1,096 listings this week. Unlike the usual August dip, listings have remained more stable. Even Labor Day weekend didn't slow things down, as new listings increased by...
Homebuyers who were taken aback by last week's mortgage rates hitting a 20-year high should prepare for more significant changes: This week saw rates climbing even higher, reaching a 22-year peak. According to Freddie Mac, for the week ending August 24, the average rate for a 30-year fixed-rate home loan stood at 7.23%. This unsettling increase follows last week's 7.09% rate. In addition to...
Here are the notable occurrences for the week ending on August 27, 2023: Narrowing Gap in Listings: Despite experiencing a 9.3% decrease compared to last year and a 4.3% drop from the previous week, the total number of listings in the D.C Metro area reached 1,081. This reduction in the gap between current listings and those from 2022 is notable progress achieved since earlier this year. The...
Presenting the week's key takeaways for the period ending August 13, 2023: Contracts Experience a Decline: A notable trend this week is the downward trajectory in contracts. This week witnessed the initiation of 1,224 new purchase contracts. This decline aligns with the usual pattern during this time of year, extending from late summer into the fall season. However, it's worth noting that these...