What the DC Metro Area Housing Market can Offer in 2023
January 2023 is here and there's a burning question on everyone’s minds - what's happening with the DC Metro area housing market? Well, I'm sure you're curious to find out. Let me break it down for you – we'll take a look at inventory levels, see what happened in the last 30 days and compare some numbers to what it was last year, and how that affects your decisions today. It won't take long! So sit back and enjoy getting an inside glimpse of this real estate market!
Despite a 15% rise in homes on the market and 66.8% drop in sales, DC metro area's real estate is still strong with an average sold price of $622k- up .3%. Although buyers have slightly higher negotiating power than before, it remains largely a seller's market as 94% of original list prices are met. The data proves that while there may be changes coming to Washington D.C.'s property scene, stability reigns supreme!
What does this mean for buyers and sellers in the DC Metro area? In short, it's a unique time offering competitive advantages! For those looking to buy, you've got an abundance of inventory and options with less competition than usual. Gone are the days of buying a home sight unseen, and gone are the times where you waive your inspection and appraisal just to have a chance at buying a home. In fact, the past few months, our team have helped our VIP buyers get deals like this one... 55k under asking price, plus 11,800 credit towards closing cost... or this vip buyer who 13k below asking, and almost 18k seller credit towards closing cost... that could be you!
If selling is more up your alley, now could be the perfect opportunity to get close-to-list prices – assuming smart pricing, and aggressive, proven marketing strategies, like our Fine Living programs, are employed. We have buyers in waiting still looking for the right home to buy, and our exclusive vip seller system will generate more demand for your home than any other marketing programs.