Supply may be steadily increasing, but list prices continue to rise throughout most of the area. The median list price was $415,000 for the week ending September 1, which is 5.1% greater than the same week in 2023. Fewer sellers are dropping their asking price as we head into September, which suggests sellers still feel like they have the upper hand.There were 5,429 new listings in the area...
Real Estate News
On Thursday morning, Mayor Muriel Bowser announced the three office-to-residential conversion projects that have been conditionally awarded tax abatements through DC's new Housing in Downtown program. Those projects will likely be familiar to UrbanTurf readers, as they include:A 157-unit residential conversionplanned for the former headquarters of the Air Line Pilots Association...
How does the market looks? Housing Market trends Condo inventory back to pre-pandemic levels, while the supply of single-family homes remains tight. The overall number of active listings across the Washington D.C. metro area surged 28.1% compared to a year ago, the sixth consecutive month of inventory gains. The condo inventory has increased much more quickly, and the condo supply is now back to...
New listings surge after a slow week. The week ending July 14 had 6,421 new listings come onto the market, a 36.0% surge from the holiday week. The number of new listings is 11.6% greater than the same week last year. Supply has generally been increasing since the beginning of the year, though inventory is still low in many local markets. New contracts are not increasing with supply. There were...
As we reach the midpoint of 2024, the Commercial Real Estate (CRE) market continues to exhibit diverse trends across different sectors. Here’s a detailed analysis of the current state of the office, retail, and industrial markets, shedding light on the challenges and opportunities that lie ahead. Office Sector The office sector remains under pressure, with net absorption still in negative...
Curious about today’s real estate market? Terring Wang, your trusted real estate expert, breaks it all down in his latest video! Learn about interest rates, investment opportunities, and how to navigate the market for your dream home. Watch the video and leave your comments! Click here to watch the video! #RealEstateMarket #TerringWang #realtor #Homebuying2024 #InterestRates #investmentproperty...
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...
