In an article which came out today from Associated Press says how Home Sales tumbled in December - The largest drop in 40 years. But what is the story about Washington DC?
Well it's not so doom and gloom in DC at all. In fact with the housing inventory dropping - buyers are starting to have a difficult time finding a good home. Sure there are still lots homes out; but the choices are not as plentiful as in many parts of the country.
Look at the numbers for DC:
It may be taking a bit longer to sell property; but prices were only off by 5% for the year - yet showing increases in December. The real sign is INVENTORY. The number of homes in the marketplace for sale directly impacts price. We are fortunate enough to have demand here in DC - since we have jobs - we have buyers. With low inventory we will see prices increase.
Remember: Real Estate is a LOCAL business. Don't only read the National Headlines!
Contact James Downing of the Downing Real Estate Group, LLC; if you are selling, buying or have questions! Office: 202-362-5800 Cell: 703.244.3971 Licensed in Washington DC, Virginia & Maryland. Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW Suite 100 * Washington DC 20016
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Licensed in DC, Maryland & Virginia. James is a Graduate of the Realtor Institute and has completed training as Accredited Buyers Representative. He's better qualified to assist buyers and sellers.
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