{"id":1004099128,"date":"2014-06-23T05:32:37","date_gmt":"2014-06-23T13:32:37","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=270772"},"modified":"2020-04-28T03:44:15","modified_gmt":"2020-04-28T11:44:15","slug":"downtown-d-c-housing-market-continues-strong-performance-in-may","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/downtown-d-c-housing-market-continues-strong-performance-in-may\/","title":{"rendered":"Downtown D.C. Housing Market Continues Strong Performance in May"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/em><\/p>\n

Downtown Washington, D.C., is one of the “brightest spots in the country for home sales and appreciation rates.\u201d That’s how Donna Evers, president and broker at Evers & Co. Real Estate, describes the region. Her company is the largest independent, woman-owned real estate firm in the Washington, D.C., metropolitan area. It recently analyzed statistics from the Metropolitan Regional Information System and reported that the Downtown Washington, D.C., housing market enjoyed a merry month of May.<\/p>\n

The region experienced gains, with a 13 percent increase in sales volume, compared to the same period last year and an increase in the average home sale price of 9.7\u00a0percent. All of this despite an uneventful spring season.<\/p>\n

\u201cWe are experiencing strong and growing demand for homeownership in the increasingly popular District of Columbia, and that bears out in these latest figures,\u201d Evers said in a statement. She advised sellers to list their homes now, to price them appropriately and to expect multiple offers. For buyers looking for a sound investment, Evers had only one piece of advice: shop carefully.<\/p>\n

\u201cThere are still not enough homes up for sale around our area to meet demand, so if sellers price and present their homes well, they\u2019re sure to solicit interest and even bidding wars among buyers,\u201d she added.<\/p>\n

The Washington, D.C., metro area did not perform as well as the city\u2019s downtown. Real Estate Business Intelligence<\/em><\/a> recently reported that closed sales and new pending contracts in the metro area decreased from last May by 10.6\u00a0percent and 4.5\u00a0percent, respectively. However, the median sales price continued to rise due to the tight inventory and the decline in bank-mediated sales. It increased by 1.2\u00a0percent, or $17,500, reaching $430,000. This is the 28th consecutive year-over-year increase and the highest May level on record, with data starting in 1997.<\/p>\n

The number of active listings also increased by 30.6\u00a0percent since last year, reaching the highest level in two years. In spite of this, the number of homes for sale in the metro area still remains tight, as the increase only brought inventory to 40.3\u00a0percent of its 2007 peak.\u00a0New listings in the metro area have increased by 9.8\u00a0percent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Downtown Washington, D.C. is one of the ”brightest spots in the country for home sales and appreciation rates.” This is how Donna Evers, president and broker of Evers & Co. Real Estate describes the region. Her company is the largest independent, woman-owned real estate firm in the Washington, D.C. metropolitan area. It has recently analyzed statistics from the Metropolitan Regional Information System and has reported that the Downtown Washington, D.C. housing market has enjoyed a merry month of May.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[1815],"class_list":["post-1004099128","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc","tag-national"],"acf":[],"yoast_head":"\nDowntown D.C. 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