Washington, D.C. (PRWEB) May 26, 2012
The D.C. area housing market is in full bloom this spring as average home prices continue to grow over last year and show positive signs of a strengthening market. In April, there was a 13 percent increase in the dollar volume of sales; the average sale price was up five (5) percent with days on the market down by 13 days compared to April 2011.
“What we are seeing in the market is the culmination of what has been developing since the beginning of the year, and really took off in March and now April—a strengthening market,” says Donna Evers, Evers & Co. Real Estate President and Broker. “Sellers are particularly excited because they realize that can get good prices for their properties and can make the move they have been putting off.”
Evers says the increase in seller confidence could result in more homes coming onto the market, which would help ease the low inventory in areas such as Northwest D.C., and the close-in areas of Bethesda and Chevy Chase, MD, and Northern Virginia. Low inventory is creating an increasingly competitive market, especially in desirable neighborhoods with attractive and affordable homes. Buyers are arriving in droves to prime locations like Arlington, VA.
“The hot area over the last month was Arlington, with a 38 plus percent increase in dollar volume of sales compared to last year and an 18 percent increase in the average price over last year which is big,” said Evers. “Arlington has tons of starter houses in cute, walkable neighborhoods that tend to be more affordable than D.C. and other nearby areas, for now at least.”
Evers says buyers should take advantage of the continuing record-low interest rates, and stresses they need to be well-prepared to make competitive, viable offers quickly, with a loan commitment already in place.
- 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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