Arlington and other localities around the D.C. region have enough room to add the housing necessary to keep pace with the Amazon-driven population influx expected over the coming years — but actually realizing that potential won’t be easy, regional planners say.
The D.C. region’s largest residential real estate network is putting its heft directly at the feet of would-be workers at Amazon’s future second headquarters.
Of the D.C. region’s 2.2 million households, about 807,000 of them are renters — 15,000 more than a year ago. The median rent in the region rose 1.8 percent this year to $2,180, according to HotPads.
Bidding wars between multiple buyers in the housing market have cooled nationwide, but there are still hot neighborhoods where they remain common, and D.C. ZIP code 20009 is one of them.
In 2019, housing will be on the forefront of the Council of Governments’ agenda. A council member said there will be a shortage of some 100,000 housing units by 2050.
Listing service Bright MLS said the median price of what sold in the D.C. region in November was $449,500 — up 5.9 percent from a year ago and a record high for the month of November. D.C.-area home sales also hit monthly price records for November.
Prices of houses and condos that sold throughout Northern Virginia, Maryland and the District were largely up in October compared to a year ago, but the number of sales was almost universally down.
In D.C., and all surrounding counties for 2019, the conforming loan amounts will be capped at $726,525. That is up from the 2018 conforming loan limit in the D.C. area of $679,650.
This summer, a family of four will move from their one-bedroom Arlington apartment to a new three-bedroom house in Alexandria. They are just one of many local families to benefit from volunteers and staff at Habitat for Humanity of Northern Virginia.
Online searches for homes in the Long Island City — long an industrial area in the Queens borough of New York — soared 248 percent last week, real estate brokerage Redfin said.
It takes more than half a million dollars to buy a median-priced home in the D.C. nowadays, but potential buyers — even those who can afford the D.C. market — continue to struggle to find something to buy.
There was a pronounced drop in the number of homes for sale in Northern Virginia in September, and prices may be showing signs of topping out.
The number of homes sold in Northern Virginia in September 2018 was down almost 12 percent, and active listings throughout the Northern Virginia region are down 9.3 percent, from September 2017.
“It allows our hosts to offer their spaces free of charge to anyone who’s been displaced or needs to evacuate or is deploying in the area to help with relief efforts,” said Kim Rubey, global head of social impact and philanthropy at Airbnb.
When it comes to housing, Northwest D.C. is a booming — thought oft overlooked — market, comparable to H Street, Columbia Heights and Petworth waterfronts.
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.