Washington, D.C. (PRWEB) January 18, 2010
The Washington, D.C.-area housing market saw a refreshing 5.3 percent increase in dollar volume of sales in 2009, and Evers and Company (Evers & Co.) Real Estate, http://www.eversco.com, was poised to take advantage of it. The largest woman-owned and -operated residential real estate firm in the Metro area posted a 26 percent increase in dollar volume of sales, which equated to $310 million in sales revenues.
"Two-thousand nine was a banner year for Evers & Co. despite the difficult economy," said Evers & Co. President and Broker Donna Evers. "The success can be attributed to the expertise of our growing agent team, their willingness to go above and beyond for clients, and to our one-of-a-kind Agent Resource Center that equips agents with an arsenal of tools to help them buy and sell property on behalf of our clients."
In looking back at the three main housing market indicators, 2009 appears to be the turning point in what has been a four-year recession. This past year was the first time since the downturn began in 2006 that sales have increased. Dollar volume of sales decreased 19.8 percent in 2006, down 12.14 percent in 2007, down 22.5 percent in 2008, but up 5.3 percent in 2009. The highest inventory levels were seen in 2008 with an average of 6.8 months' supply, but this indicator turned around in 2009, when inventory fell to an average of 4.6 months.*
Further analysis by Evers & Co. shows the average home price in the close-in Metro area is down 14.13 percent since the housing market peaked in 2005. Evers says because home prices are typically the last indicator that the market has recovered, it may take several more years before we see prices climb to the levels experienced in 2005.
"When compared to the last few previous years, the 2009 numbers indicate that DC-area housing market is in steady recovery mode," said Evers. "With the help of federal tax credits for first-time homebuyers and low interest rates, we can expect a brisk and improving market as we move through the spring of 2010."
- Statistics are taken from the Metropolitan Information System for three areas: Washington, D.C., Montgomery Country, Maryland; and Fairfax County, Arlington, Alexandria and Falls Church in Virginia.
About Evers & Co.
Founded in 1985, Evers & Co. Real Estate has enjoyed an outstanding reputation and ranks among the top companies in the Washington Metro area for the highest sales volume per agent and the highest average home sale price. Evers & Co. maintains its success through a strong referral base and agents known their expertise and in-depth knowledge of Metro area homes and neighborhoods. Evers & Co. is home to more than 70 licensed real estate agents with decades of combined experience. The agency is 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, visit http://www.eversco.com.