Washington DC Condos For Sale
Should you sell your DC Condo now, or should you wait?
If you would like up-do-date statistics at any time, please let us know!
What is the DC condo market these days, you ask? Let’s take a look. The DC real estate market, in its whole, remains strong and sales have increased since this time last year. RealEstate Business Intelligence (RBI) reports that median sales prices “reached their highest September-level in six years” and that condos “led the growth.” If you have been looking into the real estate market in DC and Virginia over the past year or so, you may know that inventory has been quite small, while demand has gone up. Naturally, this lead to the higher sales price median.
Sellers are happy, because they are seeing the higher sales price, but also a very low amount of days active on the market, before going under contract. As a matter of fact, the average number of days on the market in DC in September was only 17! The last time it was this low was during the “housing boom” in 2005. What’s great about it is that buyers are also happy. It’s still a great time for buyers to invest in the real estate market, and prices are not inflated like back in the boom. This is the closest to a “buyers and sellers’ market” both, that I have experienced since becoming a DC and Virginia Realtor(r) in 2004.
Here is the median sales price for the DC and Northern Virginia area last month, compared to September last year:
|Location||Sept 2012||Sept 2013|
|Falls Church City||$552,200||$650,000|
Adjacent Counties (not included in the DC Metro stats):
|County||Sept 2012||Sept 2013|
If you want to know what the current market value is on your home, click here.
Stats from RBI
Monica Youngling, Realtor® | The Youngling Team DC & VA Real Estate
Cell (202) 213-9330 | Office (202) 608-1880 ext.167
Berkshire Hathaway Home Services PenFed Realty, 216 7th St., SE, Washington, DC 20003 & 13555 Wellington Ctr. Circle, Gainesville, VA 20155
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