February 2012 Real Estate Market Report: Evers President Says Improving Home Sales in Close-In Metro Washington, DC Means Market is Heating Up

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Properties for Sale in Northwest Washington, and Close-In Neighborhoods in Northern Virginia and Montgomery County Should do Well This Spring

February 2012 average home sales statistics show the close-in Metro area is gaining momentum with the average sales statistics up in suburban Northern Virginia and Montgomery County, in comparison to February of 2011. The dollar volume of sales was up 9%, along with the average price of a home up 4.25%, and with days on the market down by more than three days, compared to last February. The District of Columbia continues to lead the local jurisdictions in the real estate market with significant gains.

“In the District, the dollar volume of sales is up an amazing 21%, prices are up 8%, and the days on the market is down 20 days, which is big,” says Donna Evers, Evers & Co. Real Estate President and Broker. “Washington, D.C. continues to be the leader in this market and I think it’s going to continue this way throughout the spring.”

These improving real estate figures in the region along with low housing inventory should prompt people, who have been hesitant to put their homes on the market, to sell. Evers believes now is definitely the time to get back in the market, with properties located in the District, and in the “close-in” areas of Northern Virginia and Montgomery County, expected to do well during the traditionally busy spring months ahead.

“Good properties priced between $300,000 and $1 million in Northwest D.C., and areas such Arlington, Alexandria, and Bethesda are having multiple offers submitted,” says Evers.

The current housing market continues to present great opportunities for homebuyers with the historically low interest rates. “This is such a tremendous time to borrow money, with such low rates as 3.5 and 4%, you are paying almost nothing to borrow money compared to rates that averaged 7-9% for decades.”

  • Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, D.C.; Montgomery County in Maryland; and Fairfax County, Arlington, Alexandria and Falls Church in Virginia.

About Evers & Co.
Founded in 1985 by Donna Evers, Evers & Co. Real Estate maintains its success through a strong referral base and agents who enjoy a premier reputation for their expertise and in-depth knowledge of Washington Metro Area homes and neighborhoods. Evers & Co. is home to 100 licensed real estate professionals with decades of combined experience, who enjoy access to a first-of-its-kind Agent Resource Center. The agency is the largest woman-owned and-operated residential real estate firm in the area and a member of Unique Homes Affiliate Network, Who's Who in Luxury Real Estate and FIABCI, the largest international real estate organization in the world. In addition, the agency has an alliance with My Home In Paris, a residential real estate firm in Paris, France.                                                            

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Susanna Palmer
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