How Has the D.C. Metro Market Changed in a Year?


Numbers are up from last year across the board. What does it mean for you?

I’ve got a mid-year market review to share with you today that compares how the market has changed in the last year. I took the most recent numbers and compared them to what we saw at this time last year. Let’s dive right in.

Our current median sale price of $425,000 is up 5.39% from the $403,000 median we saw last year. Homes are selling for more money, which is great news.

The total number of units sold is up from 20,036 to 21,429. That’s a 6.95% increase. The average days a home is on the market has dramatically dropped as well. The average last year was 55 days, but has since dropped 16.36% to 46 days.
“
Homes are selling faster and for more money.

”
To put things simply: homes are selling faster and for more money. If you’ve been thinking about selling anytime in the near future, there’s no telling how long we’ll experience this type of market where you can likely sell your home for top dollar in less than a week if it’s priced and marketed correctly.

If you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

Labels:
Location: Great Falls, Potomac, MD, USA

Don't Miss out on These 2 Beautiful Homes


We are so excited about our upcoming listings. The two homes featured today are beautifully renovated, so they won't be on the market for long.

In the next couple of weeks we’ll be listing seven or eight homes, but I’ve personally chosen two standout listings to feature here.

In my opinion, these homes aren’t going to last long on the market. Because of this, I’d like you to be among the first to know about them. 

The first, located in Falls Church, is a beautiful, cozy, Cape Cod-style home. Sitting at a scenic point on a three-acre lot, this property is within walking distance of the metro station.

This home comes with a renovated kitchen complete with stainless steel appliances. The property will list for $649,000 and is at 403 S Spring St, Falls Church, VA 22046 .

The second property I’d like to draw your attention to is a $699,000 townhouse at 1123 Brentfield Drive, Mclean, VA 22101. I’ve personally had experience with listings in this area and I’m sure that this home will move quickly off the market.
“
In my opinion, these homes aren’t going to last long on the market.

”
With its renovated kitchen and updated bathrooms, this beautiful townhouse is a great deal for its price.

So if you have any interest in these properties or any others we’re listing or have any other questions, feel free to get in touch by giving us a call or sending me an email. I look forward to hearing from you, soon.

Labels:
Location: Virginia, USA

Condos vs. Single-Family Homes: Which Is Better for You?


Both condos and single-family homes have their share of benefits and downsides. Whichever is best for you depends on your situation.

Should you buy a condo or a single-family home? What are the benefits and downsides of each?

Younger buyers who don’t have families to take care of or don’t want to live in the suburbs gravitate toward buying condos in Arlington or the DC area. Three or four years later, however, they usually end up making the move to a single-family home because they now have families and pay attention to school districts and other details that pertain to that change in lifestyle.

One of the biggest benefits of buying a condo is that your level of maintenance is very low. Certain amenities are taken care of for you, as well. For example, you might have access to a pool or an assigned parking place. If you travel a lot, condos are especially ideal to own because they’re turnkey. You can leave for two months and come back and everything will be the same as you left it.

If you plan on having a family, you can probably skip buying a condo.

”
One of the downsides to condos is you can’t make any upgrades or renovations to them, usually because their bylaws restrict making any serious changes. With a single-family home, you can do whatever you want to the property, though that can depend on whether you live under a homeowners association.

One of the downsides to single-family homes if you work in downtown DC is you’ll likely be commuting to work from further away. If you work elsewhere and you plan on having a family, you can skip owning a condo and buy a single-family home somewhere with a good school district.

Depending on your current situation, you don’t necessarily have to do one or the other. Like I said, buyers in our market often buy condos or townhouses and then sell them before settling in a single-family home.

If you have any further questions about the advantages and disadvantages and condos and single-family homes and which one makes the most sense for you, give me a call. I look forward to talking with you soon.

Labels:
Location: Washington, DC, USA
Subscribe to: Posts ( Atom )