Record High: May home prices hit highest monthly level on record for the DC area
As summer heats up, so are home sales and prices. In over a decade, we have never seen home prices this high for May (which is also a hot selling month regardless of economic factors). What does this mean? What happens next?
One thing I’ve learned after a lifetime of buying and selling real estate right here in DC is this: there is no such thing as “normal market conditions.” In order to make sense of the many factors influencing home prices, it’s important to look at how the prices, inventory, and days-on-market are trending over time.
In May, according to Bright MLS housing data compiled by MarketStats, the DC Metro median sales price hit $465,000. This is a
Beautifully updated 1,076 sq. ft. one bedroom plus office nook or sleeping alcove, 2 level, 2 full bathrooms with 2 entrances. Large living/ dining area, washer & dryer, central AC. Lots of light! Parking available. Pool, BBQ areas, tot lot, public tennis, dog park, garden & playground. Around the corner from Cathedral Commons Shopping Center. Grocery, pharmacy, restaurants and more. 1 dog plus 1 cat or 2 cats permitted.
Monthly condo fee: $550.61 includes management, general maintenance of common areas, landscaping, trash & snow removal, master insurance policy, reserves, gas, water & sewer.
Gorgeous, updated colonial with 5 bedrooms, 4 1/2 baths on quiet street. Large entry foyer with coat closet, living room with fireplace, formal dining room, Stunning, top of the line, open gourmet kitchen with walk-in pantry, family room with bi-fold doors completely open to large deck for amazing indoor/ outdoor living and entertaining space. Master bedroom suite with fireplace, 2 large walk-in closets plus 2 additional closets. Lower level rec room with fireplace, wet bar, walk out to new stone patio. 2 car garage plus off street parking. Great location close to grocery stores, restaurants & shops. Nothing like this in Spring Valley!
Fabulous brick Colonial with 3 bedrooms & 2 1/2 baths on tremendous corner lot. Walled in on all frontages is a blank canvas for avid gardener or for building your dream yard in DC. Entry, curved staircase to make grand entrance, powder room, coat closet, open living room with Art Deco fireplace, dining room & large kitchen. Sunroom great for entertaining opens to back patio & private yard. Finished lower level is a great family room or guest suite with full bath & outside exit. Wood floors throughout, garage & driveway parking. Between and walking distance to 2 Metro's, restaurants, grocery, shopping, library, post office and more!
I was aware of Marjorie’s reputation in the community as the neighborhood expert after seeing her, and her marketing materials around town for some time. She’s very active in the neighborhood and also very involved on the local email Listserv, so we had often crossed paths. Marjorie always provides recommendations for all sorts of contractors to the members of the community Listserv. The great contacts in her network are a real value and she is quick to share these resources freely.
I knew working with Marjorie was the right decision when she allowed us to let us “try her on for size” as an agent before even hiring her. The combination of Marjorie’s network, experience and her negotiation skills are
Fabulous brick Colonial with 3 bedrooms & 2 1/2 baths on tremendous corner lot. Walled in on all frontages is a blank canvas for avid gardener or for building your dream yard in DC. Entry, curved staircase to make grand entrance, powder room, coat closet, open living room with Art Deco fireplace, dining room & large kitchen. Sunroom great for entertaining opens to back patio & private yard. Finished lower level is a great family room or guest suite with full bath & outside exit. Wood floors throughout, garage & driveway parking. Between and walking distance to 2 Metro's, restaurants, grocery, shopping, library, post office and more!
Gorgeous, updated colonial with 5 bedrooms, 4 1/2 baths on quiet street. Large entry foyer with coat closet, living room with fireplace, formal dining room, Stunning, top of the line, open gourmet kitchen with walk-in pantry, family room with bi-fold doors completely open to large deck for amazing indoor/ outdoor living and entertaining space. Master bedroom suite with fireplace, 2 large walk-in closets plus 2 additional closets. Lower level rec room with fireplace, wet bar, walk out to new stone patio. 2 car garage plus off street parking. Great location close to grocery stores, restaurants & shops. Nothing like this in Spring Valley!
Beautifully updated 1,076 sq. ft. one bedroom plus office nook or sleeping alcove, 2 level, 2 full bathrooms with 2 entrances. Large living/ dining area, washer & dryer, central AC. Lots of light! Parking available. Pool, BBQ areas, tot lot, public tennis, dog park, garden & playground. Around the corner from Cathedral Commons Shopping Center. Grocery, pharmacy, restaurants and more. 1 dog plus 1 cat or 2 cats permitted.
Monthly condo fee: $550.61 includes management, general maintenance of common areas, landscaping, trash & snow removal, master insurance policy, reserves, gas, water & sewer.
Fabulous brick Colonial with 3 bedrooms & 2 1/2 baths on tremendous corner lot. Walled in on all frontages is a blank canvas for avid gardener or for building your dream yard in DC. Entry, curved staircase to make grand entrance, powder room, coat closet, open living room with Art Deco fireplace, dining room & large kitchen. Sunroom great for entertaining opens to back patio & private yard. Finished lower level is a great family room or guest suite with full bath & outside exit. Wood floors throughout, garage & driveway parking. Between and walking distance to 2 Metro's, restaurants, grocery, shopping, library, post office and more!
