The Washington housing market continued a familiar yearlong trend in December with prices up, listings down and closed sales lower than a year ago, but there was one bright spot.
In the D.C. area, 75 percent of homeowners would rather use a set amount of money to renovate their home to meet their changing needs instead of using that money as the post-sale profit balance of a down payment on a new home.
If someone is looking for an island escape in the region, there’s a 13-acre private island up for sale just 36 miles outside of D.C. The property, with its rich history and views of the Potomac, is listed at $15 million. See photos.
Zillow reports 15.4 percent of listings in the D.C.-area in June had a price cut from the original list price, down from 16 percent a year earlier. In the Washington market, the average reduction from original listing price was just 2.5 percent.
New home construction has not recovered from the housing market crisis and Great Recession, and that lack of building shows up starkly in data compiled by real estate firm Zillow.
The Washington-area housing market continues to suffer from a lack of sufficient listings to meet buyer demand, and what is on the market is getting snapped up fast.
A new report predicts that some baby boomer homeowners in the D.C. region who try to sell soon may have trouble getting the price they want.
Color matters to buyers, and real estate firm Zillow looked through 135,000 photos from homes sold around the country to see how certain paint colors impacted their sale.
A plunge in the amount of properties for potential buyers to look at also put a dent in sales, with units sold in D.C. down 12 percent from a year ago, and down 8 percent in Arlington County.
Despite high prices, and despite low inventory, the Washington region is one of the nation’s most active housing markets right now.
As the number of residential properties sold to foreign buyers soars in the U.S., nearly half of all foreign sales were in three states. But Virginia and Maryland saw their fair share.
The region’s supply of homes on the market represents just one month of sales at the current pace. Despite that, the number of homes sold in Northern Virginia’s inner suburbs rose in May compared to one year earlier.
Washington’s housing market is getting what it needs: More for sale. And listing service MRIS says the median price metro-wide of what sold in February was just shy of $400,000, up 5.2 percent from a year earlier.
The nation’s housing market got off to a healthy start in January, with sales and prices rising and the pace of home sales hitting their highest level in almost a decade.
Although they have been low in recent years, rates are climbing again, and the pace at which they have climbed since the election is startling.
The three-part series "The making of Marion Barry" looks at how the future mayor got his start in the civil rights movement, how he became a power player in the city and his enduring legacy.