Michele Buckman has put together some videos discussing the current DC market and what the future may hold for the real estate market in the Washington DC area.
Washington DC Realtor Michelle Buckman wants you to know the District's residential real estate market has recovered from the recession, and prices are surging.
In February 2013, the Federal Housing Finance Agency reported that its Housing Price Index at the close of 2012 showed prices in the District were 2 percent higher than the pre-recession peak of early 2007. Nationwide, prices remain 21.1 percent below their 2007 highs.
This means that DC has more than recovered from the 16 percent loss incurred during the Great Recession, when prices bottomed out in the District and across the U.S. It’s believed that the growth in population, employment, and income over the several years - combined with a relatively limited supply of housing - have been contributing to the rise in prices.
Some other statistics:
Houses and condominiums are selling faster in the Washington market, and prices continue to rise. The average selling price in the District is now at an all-time high, according to listings service MRIS. The average time to sell a property was the fastest in seven years. The Washington Metro area's median "days on market" - the number of days from a property's listing to an accepted offer – is averaging about 15 days, in down from 41 days a year ago.
In this market, Michelle Buckman is the experienced DC Realtor you need. Specializing in real estate in the Capitol Hill, Cleveland Park, Chevy Chase and Northwest DC areas, DC Realtor Michelle Buckman will help you with buying or selling your Washington DC home, for the best price possible.