Washington Real Estate Market update for January 2014.
If January is any indication of market direction for the Washington DC Real Estate market, then we are in for another very competitive year, with low inventory of homes for sale, high competition by buyers and increasing prices. Let's take an in-depth look at the numbers from Rbi:
Every data point of comparison did better year over year. Median Sold Price is up by 11.64%, Number of closed sales are up by 6.94%, Avergage Sold price is up by 10.05% and days on market is down by 18.46%. The Washington DC real estate market continues to show strengh and price appreciation. This is very much a sellers market with properly presented and priced properties generating multiple offers with escalation