Here at The Rozansky Group, we believe that knowledge is power on the Washington DC area real estate market.
Thus, we are constantly striving to get you the most up-to-date information possible so that you can make an informed decision as a home buyer or seller.
To that end, we wanted to share with you some valuable insight on the current state of the Washington DC real estate market, based on the most recent market data. Enjoy!
A Quick Look at the DC Housing Market
Here’s an overview of the current state of the market, based on market data:
- Currently there are 1,396 homes for sale on the market, including 71 in some stage of the foreclosure process.
- Between March and June, the average price per square foot for DC homes was $493, up 2.9 percent from the same period last year.
- During that same period, the median sales price for homes was $485,000 based on 927 home sales.
- Compared to last year, the median home sales price decreased 0.9 percent, or $4,500.
- And the number of home sales decreased 34.8 percent.
- More specifically, the median sales price for a 1-bedroom home was $385,000
- The median sales price for a 2-bedroom home was $530,000
- The median sales price for a 3-bedroom home in DC was $625,000
- And the median sales price for a 4-bedroom home was $690,000
- During the week ending on June 3, the average listing price for Washington DC homes was $868,373, down 4.1 percent from the week before.
- During that previous week, the average listing price was $900,000.
- Broken down further, the average listing price for a 1-bedroom home was $356,625
- The average listing price for a 2-bedroom home was $673,728
- And the average listing price for 3- and 4-bedroom homes was $795,501 and $1,301,293.
We’re Here to Help With All of Your DC Real Estate Needs!
Whether you’re a prospective home buyer or home seller, we hope you found the above information insightful.
Based on the most recent data out of the DC real estate market, it definitely seems like it’s more of a buyer’s market right now than a seller’s market.
For more insight on how recent activity may impact your efforts as a buyer or seller, please take a moment now to contact us at The Rozansky Group.
We would love the opportunity to assist you by providing valuable resources and straight-forward advice.
Until next time,
Brad