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Found 20 entries about Market Update.

This week in the News: Here are the most interesting (real estate related) articles we've read this week:


  1. From the Wall Street Journal- DC more "hip" than Austin?
  2. Interesting testimony on the new parking rules.
  3. Trulia does't think we are in a bubble
  4. H street streetcar wiring going up!
  5. Independent movie theater to union market?
  6. Long but worthwhile read from the just published 2013-2014 Washington DC Economic Partnership report. 
  7. Cool Studio apartment in NYC
  8. Zoning changes, parking rules, accessory apartments and corner stores in the Washington Post.


Enjoy the weekend :-)

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According to numbers released by RBI this morning  Active listings of homes for sale increased by 5.6% for the Washington DC metro Area.

RBI key Housing Trend Metrics (Washington, DC Metro Area) October 2013

 The increase was much more dramatic for Washington DC with an increase of 33.5% year over year. 
Here is the chart of active, new and pending listings for the last year in Washington DC.


If you take a few minutes to study the graph you can see (red line)that there was a 33.5% increase in new listings compared to October of last yeasr.  But even more interesting is the fact that the total number of Active listings in October 2013 was DOWN by 4.2%. This means that there are enough buyers out there today to absorb all the additional inventory.  Of course, we should not get overly excited here: yes, inventory is up, but it

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Brookland Real Estate Market Update November 2013
Here are some of the more interesting data points for October sales from Rbintel.com and MRIS.com for Beautiful Brookland.
For 20017 zipcode

The inventory of homes for sale in Brookland in October is significatly below the 5 year average.  This reflects the fact that the majority of homes that came on the market went under contract in October. Properly priced and presented homes in Brookland are selling fast. Median sold price increaded 49.31% year over year.  This is more a reflection of the clearing of the short sale market in Brookland.  Last year there were many more short sales closing which dragged down the enitire Brookland Market.  Now that most of those houses have been sold (purchased mostly by

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NEWS FLASH!

Since May 1st 2013, 147 houses have sold in DC.  Of these,  69  sold for more than asking price.

Nearly 47% of all houses sold in May sold for more than asking price!

  • Median Sales price is up to an incredible $665,000, from the record breaking $485,000 in April.
  • Median days on market are down to only 9 days.

The DC Real Estate Market is very hot. 

If you are a buyer looking for a home in DC, you need to be prepared.

  1. Get pre-approved for a loan.
  2. Consider doing a pre-inspection
  3. Hire a knowledgeable buyer agent.
  4. Be ready to move fast.

We are the DC real estate experts.  We can help you find the house that matches your needs and more importantly we can help you WIN! 

Call us today (202-505-5409) to find out what you

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 Washington DC Real Estate Market Update

 Need more proof that the DC Real Estate market is in the beginning of a a very hot seller's market
Let's take a  look at a few charts from RBi.

First Chart: Number of listing in to number of sold houses.  In 2010 we had nearly 3,000 houses for sale in DC.  Today... under 1,000!

Second Chart: Median Sales Price:
In 2010 the median sales price was about $385,000.  Today it is close to $460,000. 


Hottest  two zipcodes:
20011 had a 39.62% year over year increase in Median sold price.  This zipcode inscludes red-hot Petworth which accounts for most of the metoric rise in prices. 
20017 had a 37.19% year over year increase in Median sold price.  This zipcode  covers a large part of Beautiful Brookland. 

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Want to know what is going on in the HOT DC real estate Market?  Here are 3 charts from RBI that explain it all.

  1. Median sales price is at the highest on record. It is up 13.58% year over year!
  2. Inventory of homes for sale is near an all time low.  We are currently at 30% of 2008 levels.
  3. List to sales price is at an all time high.

The DC real estate market is hotter than ever.  What are you waiting for?


Action Plan:

  1. If you are a buyer-Be proactive and creative.  Get pre-approved for a loan, hire a professional buyer agent, rethink your 'wants and needs' in a house, consider a pre-inspection, and be ready to move fast.
  2. If you are a seller- Get that house ready for sale.  This is a seller's market.  What are you waiting for?
  3. If you
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DC real estate market is HOT! 
Now this is not really news, (DC Metro home prices are up 5.9% according to Case Shiller  and are up 8.5% year over year for DC according to RBi) as DC has remained a very strong market even in the downturn nationally.  But it It is clear that many buyers who have sat on the sidelines for the last 4-5 years are now ready to buy.  Inventory is picking up a little bit, as it always does around this time of year, but we still have 30% fewer houses on the market than last year and about a 2/3 less than 5 years ago!


Fewer homes for sale + More buyers + low interest rates = Increasing prices.

Found your dream home?  Now what?
If you've found a property you love, you now need to decide how much you're willing to offer.

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Here's your chance to live in the height of city luxury in a masterpiece of 6 custom-finished levels. Situated on 18 acres of fenced land in the heart of downtown Washington, DC, this lovely home encompasses an astounding 55,000 square feet of living space. 

Built originally in 1792, the 132 room, 35 bathroom home features an open, flowing floor plan with 412 custom handmande doors that allow you and your guests to glide effortlessly between rooms. Light streams into your new abode through 147 windows; they also provide unbeatable city views! On those cool winter nights, curl up with a book or a bottle of wine next one of 28 fireplaces spaced graciously throughout this true American manor home!  Since it deserved a $5.7 million reconstruction in 1950,

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The Spring Market is here!  The DC real estate market got a very early start this year due to historically low interest rates and very low inventory.   According to RBI  :

  1. The median Sales price for Washington DC is up by 8.5% over last year.
  2. The inventory of homes for sale down by 38% year of year.


Buyers report that:

  1. "There is nothing on the market". Well, not really nothing, but the inventory is very, very low.  In fact we are at about two-thirds the inventory of houses as compared to last year.
  2. "The competition is fierce". With inventory being low, there are lots of buyers out there all competing for the same house. 

Real Estate Agents report that:
"Only two types of houses are selling right now."

1)  Complete shells, in other

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Parking Wars:  Cost of parking in DC

The War on Cars that Lon Anderson –Spokesman for AAA Mid-Atlantic- has articulated seems to be getting lots of attention recently with claims that the priority for DC government is to create a more bike friendly and walkable city at the expense of car ownership.  We are all for a more walkable and biker friendly city, but the city might consider a more ballanced approach that includes cars. Here are  some of the recent developments on the political sphere and also an attempt to decipher the cost of a parking spot:

On of the proposals DC is considering is reducing the required number of parking spots a developer is required to build in a new development if it is located within a certain distance to a metro.  The goal

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