Housing Outlook for DC Homes

The GMU Center for Regional Analysis released an update December 10th about the state of the region for housing in DC. 

All types of housing has seen the greatest increase in value in three years, with townhomes increasing 31.4% compared to November 2011.  The second greatest increase was average sales price for Condos increasing 22%, followed by single family homes at a growth of 16.2%.  

Median home prices continue to climb reaching $347,000 in November 2012.  We expect this trend to continue as the available homes on the market is decreasing with only 7,830 listings last month.  The GMU Center for Regional Analysis also showed trends in decreasing unemployment and an increasing GRP which inevitably are contributing to this rise in housing costs.

With the inventory at it’s lowest in more than a decade and ⅓ of the inventory in 2007, we enter 2013 with higher demand and an optimistic outlook on the value of homes in DC.  View a pdf of the entire report at George Mason University Online

If you’re thinking this is the right time for you to sell or buy a home in DC contact us today. Browse our inventory