DC Housing Market Hit Record High Prices in April

May 13, 2019Real Estate & Local News

The April housing report by ShowingTime found that DC-area home prices hit a record high of $475,000, representing a 5.6% year-over-year increase. The increase was driven by a surge in condo pricing, up 6.4%, and a higher ratio of single-family homes sold. Notwithstanding the elevated home prices, buyers remained active in the region. There were … Read More

DC Announces Plan to Increase Housing Supply 25% by 2030

May 8, 2019Real Estate & Local News

With one of the most expensive housing markets in the country and a population that is expected to top a million people by 2045, what actions can be taken to mitigate DC’s affordable housing gap? Last week, the city unveiled a comprehensive report titled “Resilient DC,” which details the District’s plans to tackle housing challenges … Read More

Top 5 Bethesda Home Sales: April 2019

May 6, 2019Real Estate & Local News

6201 Wiscasset Rd Sale Price $1,850,000 Original List Price: $1,945,000 Subdivision: Glen Echo Heights Features: 6 bedroom, 6.5 bath Craftsman by Castlewood Builders; all en-suite bedrooms; over 6,000 SF; in-law suite on entry level; gourmet kitchen 6210 Wedgewood Rd Sale Price: $1,825,000 Original List Price: $1,925,000 Subdivision: Woodburn Features: Contemporary new construction with 6 bedrooms … Read More

DC Real Estate: Heading Towards a Buyer’s Market?

April 29, 2019Real Estate & Local News

Sellers’ command of the Washington-area real estate market may be weakening: real estate firm Trulia reports that 45% of DC-metro zip codes are shifting to more buyer-friendly conditions, compared to 15% last year. Analyzing factors such as how long homes are staying on the market, how frequent price cuts occur, and the ratio of sale … Read More

Amazon Signs Initial Leases for HQ2

April 10, 2019Real Estate & Local News

Amazon’s move into Northern Virginia is moving forward, with the company signing leases for office space in Crystal City and agreeing to purchase two newly constructed buildings that are slated to break ground in the future. JBG Smith announced that Amazon signed leases for buildings at 241 18th Street S, 1800 S Bell Street, and … Read More

Bethesda Development News

April 3, 2019Real Estate & Local News

*A mixed-use development at 7000 Wisconsin Avenue will include a roughly 4,000-square foot movie theater, per plans filed by Starr Capital with the Montgomery County Planning Department. The development will also include 200 residences and up to 15,000 square feet of retail. *The Montgomery County Department of Transportation has proposed widening a 1-mile stretch of … Read More

Top 5 Bethesda Single-Family Home Sales: March 2019

April 1, 2019Real Estate & Local News

6620 Elgin Lane Close Price: $2,690,000 Original List Price: $2,495,000 Days on Market: 31 Features: 4 bedroom, 5.5 bath Colonial in Bannockburn Heights; situated on 1.4-acre property; gourmet kitchen; fully finished lower level with media room 7004 Arandale Road Close Price: $2,450,000 Original List Price: $2,599,000 Days on Market: 140 Features: New construction by Rembrandt … Read More

Mortgage Rates Continue to Fall

March 29, 2019Real Estate & Local News

Freddie Mac reports that the average rate on a 30-year fixed mortgage fell to 4.06% this week, its lowest since January 2018 and nearly a quarter-point lower than a week earlier, representing the largest drop in over a decade. The Federal Reserve’s decision to halt interest rate increases and investor concerns about the expected rate … Read More

Bethesda Real Estate Market Update: Feb. 2019

March 18, 2019Real Estate & Local News

The residential real estate market in Bethesda showed mixed performance indicators in February—units sold faster, on average, and new contract activity picked up; however, median sold prices for detached properties fell about 13%. Here is additional data from the latest market insight report (Source: MarketStats by ShowingTime): Detached Properties • Median sold price: $989,000 (-13.2% … Read More

Top 5 DC Home Sales: Feb. 2019

March 11, 2019Real Estate & Local News

3301 N Street NW Original List Price: $7,990,000 Close Price: $6,800,000 Close Date: Feb. 8, 2019 Features: Stately detached corner residence in Georgetown; extensive renovation completed in 2017; gourmet kitchen; limestone terraces & gardens 1675 31st Street NW Original List Price: $5,400,000 Close Price: $4,900,000 Close Date: Feb. 25, 2019 Features: Federal style home in … Read More