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All About District of Columbia Real Estate

By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Check out our Mid-Week DMV Market Update! Here’s what you need to know:Over the past five weeks, we've witnessed a steady rise in inventory levels across the DMV area. Since mid-February, the supply of available homes has been steadily increasing, with active listings seeing a 1.1% uptick from the previous week.Despite the slight dip in new contracts compared to the same period last year, the market is showing resilience. As we gear up for the spring season, traditionally a time of heightened activity, we anticipate contract numbers to rebound, reflecting the usual uptick in buyer and seller engagements.While the record list price of $420,000 remains unbroken, there's been a noteworthy 5.2% uptick in median list prices compared to this time last year. This suggests a robust demand for h...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Hey there! Check this mid-week market report for the DC Metro area, where we cut through the noise and give you the facts you need to know about the current state of the housing market. Let's dive right in.New Listings SurgeThis week, we're seeing a notable surge in new listings compared to the same time last year. With 5,734 new listings in the Bright MLS service area for the week ending March 17, that's an impressive 8.0% increase from last year. Sellers are stepping up, offering more options for buyers in the market.Record High Median List PriceHold onto your hats because the median list price has skyrocketed to a new record high of $420,000! That's a 5.0% jump from last year and a 1.2% increase from just last week. It seems like every other week, we're breaking new records, and with...
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
  FinCEN Proposes New Rule For Real Estate Transactions Certain entities and trusts are affected for non-financed transactions LLCs, Trusts and other specific entities engaging in cash or other non-financed transactions are the targets of the Financial Crimes Enforcement Network's new Notice of Proposed Rulemaking titled Anti-Money Laundering Regulations for Residential Real Estate Transfers. This proposed rule places reporting and record-keeping requirements on title companies, attorneys and others involved in real estate closings and settlements for non-financed residential real estate transactions. FinCEN’s proposal targets residential real estate transfers it considers to be high-risk for money laundering. It would not require reporting of transfers made to individuals. Read more t...
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
Today's Market Data Shows Opportunity For DC Homebuyers New market data was released for Washington DC this morning. Prices are down across the board except for a slight uptick for condos and co-ops, median days on market have increased, and early spring inventory levels are showing some growth.   This should be a prompt to buyers. The market isn't likely to offer much much more opportunity for buyers before the Fed starts cutting rates and DC returns to its former cutthroat seller’s market.   During the month of February in Washington DC: The median sold price for Condo & Coop properties for February was $495,000, representing an increase of 3.4% compared to last month and an increase of 1% from Feb 2023. The average days on market for units sold in February was 54 days, 26% above the...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Are you curious about the latest trends in the DC Metro housing market? Here's a roundup of what's been happening in the past week.Growing InventoryGood news for buyers! Last week saw a 6.9% increase in new listings compared to the same time last year. This marks the fourth consecutive week of surpassing last year's numbers, indicating a healthy boost in inventory.Stable Contract TimesWhile homes are taking slightly longer to sell compared to the previous week, the downward trend in median time to contract has stopped. Despite this, homes are still selling two days faster than they did last year, maintaining a swift pace in the market.Affordable PricesThe median list price in the Mid-Atlantic region dipped slightly below $400k, a 2.5% drop from the previous week. Despite this decrease, ...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
In the middle of the week, Tuesdays are special for real estate folks like me. They give us a chance to catch our breath and focus.But more than that, Tuesdays are when we get a second look at homes that didn't sell over the weekend. It's a time to talk to other realtors and see what's out there.For people looking to buy a home, Tuesdays are a great time to reach out to us. There might be hidden gems waiting to be discovered.In my experience, Tuesdays have led to some great deals, even when the market is tough.So, let's remember to give Tuesdays the attention they deserve in the world of real estate. Happy Tuesday!
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
Real Estate In The DistrictThe Washington DC Spring 2024 Market You Didn't ExpectFebruary 25, 2024 Why Are Interest Rates Going Up Instead Of Down? The spring 2024 Washington DC real estate season is off to a slow start as interest rates top 7%. Industry blog posts trumpeting a return to the competitive pre-2023 market in the District were clearly written before mid-February, when the PPI (Producer Price Index) report release revealed a +0.3% increase when economists were expecting only a 0.1% rise. Monthly PPI reports are an inflation indicator. Core CPI increased by 0.5%, also much higher than forecasted. It was the second consecutive surprise CPI report showing an upward trajectory of inflation. The 10 year treasury yield rose to 4.28%, and the 30 year mortgage rate spiked to 7.2%. T...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Hey there, whether you were celebrating Valentine's, Galentine's, Friendship Day, or just making it through today, I hope you're having a fantastic time! Let's talk a bit about what's going on in the DC Metro housing market lately.For those of us who've been around here for a while (like me, 25 years and counting!), we've seen the housing numbers climb up and up, which is pretty great news. But with that comes some challenges, especially for buyers. Interest rates recently hit 7%, and that meant some of my clients missed out on homes because of all the competition.If you're thinking of selling, now's the time to act! Seriously, don't wait around for spring or summer—get your home on the market while the getting's good. And if you're considering investing elsewhere, I've got connections ...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Hey there, savvy investors and homeowners! In this week's DC Metro market snapshot, we've got the scoop on the latest trends that could shape your real estate decisions.Good news for sellers! The median list price soared by 5.7% from last year, now standing strong at $389,990. It's a green signal for those looking to capitalize on their property investments.This week, we spotted 4,161 listings in the area, marking a 1.3% increase from the previous year. While more homes are hitting the market, remember, choices are still a tad limited for buyers. Decisions, decisions!Homes are changing hands a bit faster than they were a year ago. So, if you're in the market, be ready to make your move efficiently!Have burning questions or need more details about these trends? Feel free to DM me or drop...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Happy New Year! With the opening week of 2024 and the future in mind, take a look at the most recent statistics, providing you with a comprehensive overview of the trends shaping the property landscape in our community.Breaking Down the Numbers:New Listings Decline: In the final week of the year, the local real estate market witnessed a 4.3% decrease in new listings compared to the previous year. Understanding these fluctuations is crucial for anyone considering entering the market, whether as a buyer or seller.Contract Finalization Time: The time it takes for a contract to be finalized has shown a moderate increase. However, the good news is that it's still six days faster than it was at this time last year. This insight can be pivotal for those navigating the intricate timeline of pro...
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By Claude Labbe, Realty for Your Busy Life
(RLAH / @properties)
 [This is the neighborhood in Washington, DC.  Everyone wants live here, or to come here to eat and enjoy the city.Logan Circle is the quintessential NW DC neighborhood.  It simply looks and feels right, without the attitude one finds with the usually older & more established NW neighborhoods.Penn Quarter, closer to downtown/ Penn. Ave., has the nightlife, clubs and Capital One Arena.Shaw is the place to be and the neighborhood has a great feel of new & old woven together. Interest rates, while still higher than pre-pandemic rates, started to fall in November.  This month, we lost homes again vs. the previous month for a total of 23 homes sold. Up and down, up and down, and once again we are below the 5 year average of 50.  Stubbornly high interest rates have surely slowed sellers selli...
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By Claude Labbe, Realty for Your Busy Life
(RLAH / @properties)
Capitol Hill is also a neighborhood in Washington, a big village, split halfway across, half in the NE and half in the SE quadrant of Washington, DC.  Politicians work here, but people live here also.On the north side, an iconic landmark is Union Station, with some 40 million people annually, shown here to represent the local perspective. This is a true transportation hub, with Amtrak, suburban rail, intercity  bus and the Metro(subway) stations to converge. As of 2019, 2nd busiest station in the country.As of February 2016, the H Street Trolley now gets people from (almost) Union Station to past the 15th St Starburst. Extension to Minn. Ave Metro, paused due to budget concerns at the moment, stay tuned.This view shows the station as you drive up in a cab, or Bikeshare or walk from Capi...
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By Claude Labbe, Realty for Your Busy Life
(RLAH / @properties)
Capitol Hill is not only a political idea, it is also a big village, a neighborhood split halfway across, half in the NE and half in the SE quadrant of Washington, DC.  Politicians work here, but people live here also.On the south side of this neighborhood is Barracks Row, and the ever growing and popular Navy Yard with the Nationals Park neighborhood.  Let's consider that we will return to some level of foot traffic here in the summer of 2024, even if not 2019 levels yet.The Navy Yard has very good Metro access, and is also home to baseball's Nationals Park. This neighborhood has also become the 'it' neighborhood, growing faster than any other in the past year.  All the residential growth has fueled demand for lots of new neighborhood amenities, which brings more people.  It certainly ...
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By Claude Labbe, Realty for Your Busy Life
(RLAH / @properties)
This quote is getting older, but even more relevant in 2023. Councilmember Charles Allen was quoted in the Washington City Paper (8/21/2O15) saying "Southwest is an absolutely incredible neighborhood.  It's a neighborhood that has so many things: Metro stations, water access, parks & greenspaces, small and big residential buildings.  A lot of people just didn't realize it was there".Audi Field, home of DC United Soccer, as well as PNHoffman's The Wharf will ensure a lot more people find this neighborhood.This view shows the opening day, which was a good day, albeit with opening issues. DC United has upped it's game this season with a few team additions, surely to benefit a stronger team.   A total of 10 homes were sold in November 2023, about the same as the previous month and a few les...
Comments 2
By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
The Fed Created a DC Home Buyers Market, Then Priced Non-Cash Buyers Out As mortgage interest rates inflated, the DC market slowed, offering buyers a rare opportunity... but they quickly found that higher rates meant tighter lending conditions and huge payment hikes. With the Fed repeatedly dismissing hopes of meaningful 2024 rate reductions, many buyers sat out the one opportunity they may have had to purchase in the District without mad bidding wars, price escalations and harsh terms.   The Numbers Told A Different Story Total sold dollar volume for 2023 shows a significant contraction, declining by 22.19% to $5.33 billion from 2022’s $6,847,085,812. The number of units sold saw a substantial drop of 21.97%. The median sold price, a key indicator of market health, experienced a more p...
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By inboundREM Market Updates
(InboundREM)
In today's fast-paced world, making informed decisions about where to live is crucial. One of the most significant factors to consider when choosing a residence place is the cost of living. Understanding the average cost of living in a particular city can help you plan your finances better and ensure a comfortable lifestyle. What is the average cost of living in Washington, DC? In this blog post, we'll delve into the various aspects of the cost of living in this charming city, the nation's capital, and provide valuable insights to aid your decision-making process.Housing Costs1. Renting in D.C.Neighborhood VariationsWhen renting in Washington, D.C., your chosen neighborhood can significantly impact your monthly expenses. The city is known for its diverse neighborhoods, each with its uni...
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By Claude Labbe, Realty for Your Busy Life
(RLAH / @properties)
 [ This is the neighborhood in Washington, DC.  Everyone wants live here, or to come here to eat and enjoy the city.Logan Circle is the quintessential NW DC neighborhood.  It simply looks and feels right, without the attitude one finds with the usually older & more established NW neighborhoods.Penn Quarter, closer to downtown/ Penn. Ave., has the nightlife, clubs and Capital One Arena.Shaw is the place to be and the neighborhood has a great feel of new & old woven together. Interest rates continue to remain high in October.  This month, we gained a few homes  vs. the previous month for a total of 35 homes sold. Up and down, up and down, but once again we are below the 5 year average of 53.  Buyers will continue to buy and sellers will continue to sell, so we will watch to see if this tr...
Comments 3
By Claude Labbe, Realty for Your Busy Life
(RLAH / @properties)
Capitol Hill is also a neighborhood in Washington, a big village, split halfway across, half in the NE and half in the SE quadrant of Washington, DC.  Politicians work here, but people live here also.On the north side, an iconic landmark is Union Station, with some 40 million people annually, shown here to represent the local perspective. This is a true transportation hub, with Amtrak, suburban rail, intercity  bus and the Metro(subway) stations to converge. As of 2019, 2nd busiest station in the country.As of February 2016, the H Street Trolley now gets people from (almost) Union Station to past the 15th St Starburst. Extension to Minn. Ave Metro, paused due to budget concerns at the moment, stay tuned.This view shows the station as you drive up in a cab, or Bikeshare or walk from Capi...
Comments 2
By Claude Labbe, Realty for Your Busy Life
(RLAH / @properties)
Capitol Hill is not only a political idea, it is also a big village, a neighborhood split halfway across, half in the NE and half in the SE quadrant of Washington, DC.  Politicians work here, but people live here also.On the south side of this neighborhood is Barracks Row, and the ever growing and popular Navy Yard with the Nationals Park neighborhood.  Let's consider that we will return to some level of foot traffic here in the summer of 2024, even if not 2019 levels yet.The Navy Yard has very good Metro access, and is also home to baseball's Nationals Park. This neighborhood has also become the 'it' neighborhood, growing faster than any other in the past year.  All the residential growth has fueled demand for lots of new neighborhood amenities, which brings more people.  It certainly ...
Comments 2
By Claude Labbe, Realty for Your Busy Life
(RLAH / @properties)
This quote is getting older, but even more relevant in 2023. Councilmember Charles Allen was quoted in the Washington City Paper (8/21/2O15) saying "Southwest is an absolutely incredible neighborhood.  It's a neighborhood that has so many things: Metro stations, water access, parks & greenspaces, small and big residential buildings.  A lot of people just didn't realize it was there".Audi Field, home of DC United Soccer, as well as PNHoffman's The Wharf will ensure a lot more people find this neighborhood.This view shows the opening day, which was a good day, albeit with opening issues. DC United has upped it's game this season with a few team additions, surely to benefit a stronger team.   A total of 13 homes were sold in October 2023, about the same as the previous month and a few less...
Comments 2