What’s Going On in the D.C. Real Estate Market? [VIDEO]
Posted by Marjorie Dick Stuart on Tuesday, May 10th, 2016 at 10:44am.
Looking for your next home? SEARCH HERE!
How much is your house worth? FIND OUT HERE!
Affordable interest rates continue to fuel demand.
While the inventory of homes for sale is up 21.9% compared to last year, it remains very low, continuing to frustrate buyers.
This seller's market is all about supply & demand, with competing offers above full price. This year my sellers are getting 107% of list price in an average of 3 days.
Multiple offers jumping $100,000...$200,000... even more than $500,000 above asking price!
”
But if you are thinking of selling, don't get complacent. In my next video, you'll find out what a savvy seller did to get an extra $400,000 for her home in Cleveland Park.
And if you're ready to buy, don't despair. The number of sales increased 7% in the first quarter. Sales over $1,500,000 are up 50%.
Next month, I'll tell you how a couple did the almost impossible in this market... bought their dream home in Cleveland Park contingent on the sale of their condo. They just closed on both Thursday!
So thats for 'What's Happening Now!' Be on the lookout for my next video blog, 'What's Working Now!' to discover how that Cleveland Park homeowner made an extra $400,000 on the sale of her home.
Thinking about buying or selling? You probably have questions. CLICK HERE... LET'S TALK!
