Washington, D.C. (PRWEB) August 17, 2012
The buzz around this summer’s hot real estate market in the close-in Washington, D.C. area housing market continues to be about the increasingly competitive climate for buyers. The averages for the area showed a 7.5 percent increase in dollar volume of sales over July 2011, with average home sales prices remaining steady compared to last year, and days on the market down a significant 20 percent. Properties are selling at a much faster pace, with multiple offers for well-priced homes becoming increasingly more prevalent.
“While the continued improvements we are seeing in the strong Washington D.C. metro area market were expected, I don’t think anyone could have predicted this kind of activity taking place at this time, ” says Donna Evers, Evers & Co. Real Estate President and Broker. “We aren’t talking about ‘just’ three or four offers, but six, eight or more offers for well-priced properties in desirable neighborhoods. In one case, we had 26 offers!”
Evers says that multiple offers and competitive bidding situations are occurring due to an abundance of motivated buyers faced with very low-inventory of properties in the $300,000 – $900,000 price range, located in popular areas of N.W. Washington, D.C., Northern Virginia and close-in Montgomery County, Md.
Evers also notes young professionals continue to participate in this competitive housing market, not only as interested buyers, but as real estate agents; a career historically pursued as a second career by professionals.
“We are seeing a lot of people in their twenties, coming straight out college and seeking their real estate license,” says Evers. “We have a cadre of young professionals at Evers & Co. who are doing very well. It is exciting to have them work alongside established agents and reflect Washington, which Forbes magazine recently named as the second-best city for young professionals.” (Forbes, 2012).
- 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. For more information about Evers & Co. Real Estate, visit http://www.eversco.com.
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