Washington DC Metro Market Update
Washington DC Metro Market Update
Washington DC Metro Market Update
Washington DC Metro Market Update
December 2022 Saw The Lowest Number Of New Pending Sales Since 2014.
Meanwhile, the number of homes sold in the Washington DC Metro Market was the lowest in 15 years. At the same time, the median price fell year over year for the first time since 2016 which is 15% lower from the peak of the market, according to data compiled by Bright MLS on the Washington D.C. Metro region. While home prices have decreased, the median sales price in the Mid-Atlantic is more than 20% higher than home sales prior to the pandemic.
The average days of the market was 22 days a dramatic increase from the 11 days on the market in December 2021.
The number of new listings was down more than 30% and the number of showings was down to almost 40% as compared to this time last year.
Bright MLS T3 Home Demand Index indicates that January 2023 is off to a slow start. The HDI for the Washington DC Metropolitan Area has fallen to 56 and reflected in two key places, down from 69 a year ago and from 75 as compared to last month.
Is there any good news about the housing market?
Housing inventory has increased in Fairfax City (up 116.7%) and Loudoun County (up 84%)
How should home buyers prepare to buy a home in this current market?
- Schedule a free online consultation with one of our exclusive buyer agents. Our licensed Realtors are available to answer questions and guide you step by step through the home buying process. If we don’t have an answer for you, we will point you in the right direction. You may conclude that now is not the time to buy a home. What’s important is gaining an understanding of your buying power and making an informed decision.
- There’s still time to register for our free online home buying class. The class is offered via zoom on January 17th, 2023 at 6 p.m.
- Exclusive buyer agents with HomeBuyer Brokerage only work for home buyers. Who represents you in a real estate transaction matters. We believe in educating home buyers so they make informed decisions. What is the difference between a listing agent, buyers agent, buyer broker or Realtor?
Still have questions? Contact us directly at Victoria@homebuyerbrokerage.com
We will not share your information with anyone....
Thank you for requesting more information...
We value and protect your privacy and will never share your contact information with anyone else.
How can we help?
If the exclusive buyer agents at HomeBuyer Brokerage can assist you in any way, please don't hesitate to contact us at info@homebuyerbrokerage.com.
Washington DC Metro Market Update
December 2022 Saw The Lowest Number Of New Pending Sales Since 2014.
Meanwhile, the number of homes sold in the Washington DC Metro Market was the lowest in 15 years. At the same time, the median price fell year over year for the first time since 2016 which is 15% lower from the peak of the market, according to data compiled by Bright MLS on the Washington D.C. Metro region. While home prices have decreased, the median sales price in the Mid-Atlantic is more than 20% higher than home sales prior to the pandemic.
The average days of the market was 22 days a dramatic increase from the 11 days on the market in December 2021.
The number of new listings was down more than 30% and the number of showings was down to almost 40% as compared to this time last year.
Bright MLS T3 Home Demand Index indicates that January 2023 is off to a slow start. The HDI for the Washington DC Metropolitan Area has fallen to 56 and reflected in two key places, down from 69 a year ago and from 75 as compared to last month.
Is there any good news about the housing market?
Housing inventory has increased in Fairfax City (up 116.7%) and Loudoun County (up 84%)
How should home buyers prepare to buy a home in this current market?
- Schedule a free online consultation with one of our exclusive buyer agents. Our licensed Realtors are available to answer questions and guide you step by step through the home buying process. If we don’t have an answer for you, we will point you in the right direction. You may conclude that now is not the time to buy a home. What’s important is gaining an understanding of your buying power and making an informed decision.
- There’s still time to register for our free online home buying class. The class is offered via zoom on January 17th, 2023 at 6 p.m.
- Exclusive buyer agents with HomeBuyer Brokerage only work for home buyers. Who represents you in a real estate transaction matters. We believe in educating home buyers so they make informed decisions. What is the difference between a listing agent, buyers agent, buyer broker or Realtor?
Still have questions? Contact us directly at Victoria@homebuyerbrokerage.com
Request More Information
We will not share your information with anyone....
Thank you for requesting more information...
We value and protect your privacy and will never share your contact information with anyone else.
How can we help?
The exclusive buyer agents at HomeBuyer Brokerage specialize in serving home buyers. Please reach out with questions at info@homebuyerbrokerage.com.
