We saw a lot of encouraging signs in our market during the first quarter of 2017. Here’s what we are excited about.
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We are already well into the second quarter of 2017, so I wanted to take this opportunity to give you an update on the real estate market from the first quarter of this year. We compared the numbers from the first quarter of 2016 to the numbers from the first quarter of this year, and here’s what we found.
The median sales price in northern Virginia is up 2.2% from last year to $425,000. The average days on market is down 21% from last year as well.
In the Maryland suburbs, the median price is up 9.69% from last year and now sits at $317,000. The average days on market here is down 17.65%.
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Finally, in Washington D.C., the median sale price is up 3.38% to $527,250 and the average days on market is down 8.7%.
Inventory is down, prices are up, and homes are selling fast.
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As you can see, inventory is down, prices are going up, and homes are selling faster. In addition to the real estate market, the lemonade market is doing well too, judging from the success my daughters had at their lemonade stand in the video above.
If you have any questions for me about the market or buying or selling real estate, give me a call or send me an email. I would love to hear from you.
