Have you been wondering what the Washington DC metro area real estate market has been doing recently? Take a look at the latest data for the region as a whole and dig into market reports for select areas in the DC region below. If there is an area or neighborhood that you want to know more about but don't see, send me a message!
I also included links to a few articles I read recently and found interesting. I would love to know what you think, and I always love hearing your recommendations.
If you would like to talk more about any of the data for the Washington, DC area, feel free to reach out! I would be happy to discuss what this might look like for your needs.
Warmly,
Hannah
For the overall Washington, DC metro area, August was the month the market finally caught its breath, whether it wanted to or not. Closed sales fell 9.2% year-over-year to 3,872, and dropped a sharp 17% from July alone, while new pending sales were down 11.5%. That's not a blip; that's rates and affordability doing exactly what they're supposed to do.
The median sold price still climbed 2.4% year-over-year to $640,000, but it's actually down 1.5% from July, and price growth in Fairfax and Loudoun — two counties that had been on a tear all year — has noticeably cooled. Condos took the hardest hit, with sales down nearly 23% and days on market stretching to 34. (Buyers have options now — 11,280 active listings, the most inventory we've seen in years — they just might not be in a hurry to use them.)
For more details on local markets in the DC metro area, see the market reports below.
The Washingtonian shared their roundup of the best cheap eats around the DC area. My list of places to revist (and check out) just got longer.
Lowkey not reading (per se), but the National Gallery of Art really said "we're that girl" and keeps dropping absolute heaters 😭 no cap, art history is actually eating rn. Lock in, chat, this is not a drill.
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