Hello Neighbors! Welcome to the March 2017 Home Sales Report. This series is intended to help readers stay informed of real estate activity in our neighborhoods and share some expert viewpoints on where the housing market may head through the rest of the year. I included most of the content for this month’s report in a quick YouTube video. Check it out!
As of today there are 19 homes for sale in zip code 20012, which equals about 1.8 months of inventory. That makes this a pretty extreme seller’s market.
Compared with last year at this time, the median estimated home value stands at $673K, a 3.2% change from 2016. The estimated value for the District as a whole is $578K.
Beyond the Numbers
Consumers’ confidence in the overall economy is flourishing nationwide. That is despite the rumors and rumblings about what extreme Federal Budget Cuts might do to our local economy. MarketWatch posted this note recently:
“U.S. consumers are the most confident in the U.S. economy in 15 years, buoyed by the strongest job market since before the Great Recession. The survey of consumer confidence rose…according to the Conference Board, the private company that publishes the index. That’s the highest level since July 2001.”
If confidence continues at this level, it cannot help but buoy housing prices.
If you have any questions about buying, selling or investing in Real Estate or, if you’re interested in receiving a free market valuation for your home, you are welcome to contact me to learn more.
Sales Information provided courtesy of MRIS, LLC.