DC's Real Estate Market: It's A Little Crazy Out There!
If you've been house hunting lately, you know there's a lot of activity in the DC market... and more than a few buyers competing for the same properties.
RBI released their February market data to few raised eyebrows. More robust than January, which saw buyers jumping in to the market wholeheartedly.
And that DC inventory shortage you've been hearing about? So true. Especially condos.
RBI reports median prices rose 6% and inventory dipped to its lowest level since 2005. Contracts are up 1.9% too, so expect inventory levels to slip again in the March report (due April 10th). There haven't been this many contracts in February since 2007.
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It's a little crazy over here in Northern VA too! Spring is in the air and the buyers and sellers are out in full force. Glad to know our "neighbors" are doing well.
Fantastic, sell my listing at 4490 Market Commons Drive #705! : D