DC Real Estate Market Stats February 2018

– Hi, my name is Drew Carpenter, I’m a real estate agent
with the Keri Shull team at Optime Realty. Today, I’m gonna be going over
the D.C. Metro market stats for February 2018. As expected, as we’re seeing
throughout the region, the days on market are shrinking. Great news for sellers,
tough news for buyers. Right now the days on market average for the D.C. Metro area, this 56 days, down five from just a few months ago. What that means is things
are getting competitive. The low inventory along with
the looming interest rate hikes are causing a lot of people to move sooner than they might have
actually desired to move. Correlating with that
are meeting sold prices actually up 2.5% from last year. Last year it was $399,700
for an average home, as of today it’s about $410,000. So, think about that year
over year what that means and every year that you wait to purchase, what that can do to the
actual purchasing power of your dollar. If you guys have any
questions about these reports, buying or selling in the D.C.
area, we’d be happy to help. You can reach us at 703-952-7653. Thanks for tuning in, have a great day.

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