Washington, D.C. (PRWEB) July 17, 2012
The upward trend in the Washington D.C. area housing market continued in June as the market shows steady improvement, while becoming increasingly competitive for buyers. The averages for the area showed a 5 percent increase in dollar volume of sales over June 2011, with prices up 1 percent, and days on the market down 3 percent.
“These positive trends in the D.C. metro area housing market are only going to continue as there is a lot of enthusiasm to buy,” says Donna Evers, Evers & Co. Real Estate President and Broker. “Buyer confidence is back, with record-low interest rates and national statistics showing a continuing improvement in the overall national housing market.”
Evers stresses that potential buyers should take advantage of the continuing record-low interest rates that dramatically affect the overall cost of a loan.
“The difference in borrowing at a rate below 4 percent, versus higher rates at 6 or 8 percent, is phenomenal,” says Evers. “Buyers really need to understand what these differences in percentages mean in real dollars when buying a property.”
Low inventory, due to very limited new construction and reluctance of potential sellers to put their property on the market, is creating an increasingly competitive market for buyers, Evers notes. There are often multiple offers for properties that are priced correctly, show well and are located in popular areas of N.W. Washington, D.C., Arlington and Alexandria, Va. and close-in Montgomery County, Md.
Evers expects these market conditions to continue through the summer and fall. She notes that an increase in inventory would be positive for the market given the number of interested buyers in the D.C. metro area and the enthusiasm in the marketplace.
- 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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