DC Real Estate Is Still Selling Quickly

DC real estate is still selling quickly! Properties during August sold for an average of 98.3% of original asking price, and on average in 37 days. Prices took a slight dip of only 0.94% compared to last year.

Single Family Homes
Average Sale Price: $739,695 in 36 days
Range: $60,000 – $1,937,500

Average Sale Price: $652,290 in 25 days
Range: $80,000 – $3,495,000

1 Bedroom 1 Bathroom Condos/Coops
Average Sale Price: $335,331 in 29 days
Range: $55,000 – $899,000

2 Bedroom, 2 Bathroom Condos/Coops
Average Sale Price: $701,404 in 33 days
Range: $220,000 – $2,302,100

Find Out What Your DC Home Is Worth or  Search DC Homes For Sale 

Average DC Prices Climb 13% in November

The November election didn’t slow down the real estate market in DC. About 600 properties sold during November, a huge increase over the 447 in 2011. Of those, only 37 were bank owned or short sale properties. Average prices were up 12.9%, days on the market fell to an average of 53, inventory dropped 34%,and sellers were getting an average of 97% of original list price.

Single Family Homes
Average Net Sale Price: $908,193 after 42 days (median: 18)
Median Sale Price: $764,000
Range: $40,000 – $7,000,000

Average Sale Price: $627,066 after 37 days
Range: $45,300 – $3,250,000

1 Bedroom, 1 Bathroom Condos/Coops
Average Sale Price: $325,660 after 53 days
Range: $73,000 – $560,000

2 Bedroom, 2 Bathroom Condos/Coops
Average Net Sale Price: $565,230 after 44 days
Range: $195,000 – $1,400,000

Find Out What Your DC Home Is Worth or  Search DC Homes For Sale 

What Does $30 Million Get You?

1623 28th St NW, Washington, DC

If you’re willing to forego living in Arlington, you can buy this grandiose Estate from the 18th century known as the Evermay in DC.

Back on the market at the bargain price of $25,900,000, nearly 50% off the original list price of $49,000,000 back in October of 2008. Here’s what $26M will get you:

Bedrooms: 9
Bathrooms: 6 full, 5 half
Square Footage: 13,000
Lot Size: 3.58 acres
Parking: up to 100 cars
Dining Room: Seats up to 40
Guest House + Gatekeeper Cottage
Historic Designation: Georgetown Historic District
View: Washington Monument and Rock Creek Park

For a virtual tour of photos of the home, click here.

The seller is being represented by Long and Foster Real Estate

Washington DC Metro Area Makes Headlines – How This Impacts Your Real Estate Market

Men’s Health Magazine did a profile in the March edition of the most Socially Networked Cities across the USA…DC Ranked #1. The rankings were calculated as a measure of per capita engagement on sites like Facebook, LinkedIn, Twitter, blogs, etc. DC got an overall ranking of an A+

What Does That Mean For Your Real Estate Market?
It means you better pick a Realtor(R) who is familiar and comfortable with technology, and actually implementing it in their daily business. Long gone are the days of print advertising. Research shows 94% of buyers in the Northern Virginia/DC area start their home search online…so you better make sure your house is EVERYWHERE.


Oxygen Magazine, a Women’s Fitness Magazine, had a blurb on the Fittest City in the US – Washington,D.C. topped the charts in this category too. Why? Because we have a fewer percentage of smokers and people with diabetes; also, more than 50% have health insurance (thank you Government employees and contractors).

What Does This Mean For Your Real Estate Market?
Advertise proximity to farmers markets, metro, public transport, walking distance to shopping, etc.  Every time I have out of town guests, they all say “wow, there are a lot of fit runners around here,” because you always see people running up and down the street. Use that to your advantage when marketing your property.

Washington, D.C. Real Estate Market Lacking Properties To Sell

Much like the surrounding areas of the D.C. Metro area, The District is at very low inventory levels too. So low in fact, that 52% of the condo/coop inventory in March sold in the first 30 days; for rowhouses/single family homes – it was at 42%.

Condo/Coop Inventory is down 16% from this time in 2009, but it’s the highest level since last August. Part of this comes from the fact that sales are up 27.5% from 2009, and average sale price is higher than 2006 and 2007, but only a smudge lower than 2009.

Rowhomes and Single Family properties have seen inventory levels fall by 31% since 2009. The number of units that traded hands last month is up 39.2% from 2009, probably because average sale price is at the lowest it’s been in the last 5 years.

Data provided courtesy of the Greater Capital Area Association of Realtors(R).

Washington, DC Real Estate Market Update – February 2010

We have ourselves a little bit of a seller’s market in the Washington, D.C. area for rowhouses and detached properties; condos aren’t getting bid up quite as much. The big story continues to be the low inventory in DC – rowhomes/detached properties are historically low for the 3rd month in a row, about 30% lower than 2009. Condos/Coops also have inventory levels slightly lower than 2009.

-Inventory: Down 17% from 2009 (but increasing from the lowest point in December)
-Sales: Up 39%
-Average Sales Price: $389,295 (still down from 2005-2009)

Single Family Homes/Attached Rowhomes
-Inventory: Down 30% from 2009
-Sales: Up 39%
-Average Sales Price: $493,058 (still down from last year)

Stats are courtesy of

Washington, DC Real Estate Market Update – January 2010

Washington, D.C. is in a bit of “tale of two markets” scenario with their real estate. On the one hand for Condos/Coops, you had the highest average sale price in the last 5 years, while inventory remains at an all time low. However, rowhomes and detached/single family properties had the lowest average sale price in the last 5 years, and they too have very low levels of inventory. The low levels of inventory just means being patient and waiting for the right property to present itself, and when it does, being prepared to move forward quickly with an offer.

Average Sale Price for Condos/Coops: $424,560

Average Sale Price for Townhomes/Rowhomes/Detached Properties: $480,550

Stats and information taken from the website.

Washington, DC Parking Meters – Price Increase!

Thanks to Ben Franklin, we know that “‘In this world nothing can be said to be certain, except death and taxes”…oh, and parking meter fee increases. It’s that time again in Washington, D.C. As of January 19th, expect ALL of the meters to reflect the updated rates. Here’s the dirt:

1. For most of the parking meters in the city (14,749 actually), the new rates will be $2/hour.

Adams Morgan, Georgetown, U-Street Corridor, Chinatown, Downtown Business Center/Commercial district, Maine Ave and  Water St SW, National Mall, Van Ness, and near most of the metro stations

2. Parking meters are now effective Monday – SATURDAY, from 7am to 10pm

The remaining 2,408 meters throughout the city will stay at the current rate of $0.75/hour.

*Some tips from the Washington Post:

1. If you see a meter has been updated, but the sign has not, or vice versa – go by the sign.

2. Keep quarters handy! 1 hour= $2 = 8 quarters

Washington, DC Restaurant Week – January 2010

One of the most popular weeks in Washington, D.C. is almost upon us…Restaurant Week starts Monday! Here’s the jist:

Lunch: $20.10 for a 3-course fixed-price meal
Dinner: $35.10 for a 3-course fixed-price meal
Beverages, gratuity and tax are not included.

Restaurant week is supposed to run from the 11th through the 17th, however, many of the local restaurants have decided to extend restaurant week throughout the month of January. Here’s a list of all of the restaurants, and a list of those who have extended the dates.

Bon appetit!

Washington, D.C. Real Estate Market Update – November 2009

Although the District of Columbia has 4 markets in the 4 quadrants – NW, NE, SE, SW – the following stats are for the entire District. Please don’t base any specific properties on the following numbers, the intention is to provide an overall picture of the market.


Inventory is at the LOWEST it has been in the past 12 months – we had 1,129 active listings in November 2009, that’s 21.4% fewer listings that November 2008 (1,436).

Average sales price is just under 1% below this time in 2008, but still above 2006 and 2007. The average sales price is currently $408,134.

Rowhouse/Townhouse/Detached Homes

Same story here for the inventory: lowest by FAR in the last 12 months. We’re currently at 1,381 active listings, which is down almost 24% from November 2008 (1,809).

*Here’s the biggest difference* Average sales price is down to $552,061, by far the lowest price since 2005 (which was $628,179).

All stats provided by the Greater Capital Area Association of Realtors (GCAAR).