MARKET UPDATE: Washington, D.C. Real Estate: What’s Happening Now?
INTRODUCTION Hello and welcome back to my blog. If you’re keeping an eye on the real estate market in Washington, D.C., it's been a bit of a ride. Prices are shifting, inventory is up, and some big changes are on the horizon. Whether you're looking to buy, sell, or just stay informed, here's what you need to know about what’s happening right now in the nation's capital. Prices Are Moving (But in Different Directions) Home prices are giving mixed signals. The median sale price is around $650,000 , which is up about 11% from last year. But depending on who you ask, some sources are also reporting a slight dip in average values. What does that mean? Well, if you’re selling, it’s still a solid market—but buyers are starting to get a bit more power. More Homes Are Available (and Sitting Longer) If you’ve been house hunting, you might have noticed that there are more homes to choose from. Inventory has jumped 46.5% year-over-year , which is great news for buyers. ...