*Developer Bello Realty Partners is proposing to develop 39 condominium units on the surface parking lot at 11th and U Streets NW. The project includes a mix of mainly junior- and traditional one-bedrooms, five two-bedrooms, and a few surface parking spaces. Three units will be Inclusionary Zoning. *The Arlington Partnership for Affordable Housing has filed … Read More
With the spring season in full swing, the DC Metro real estate market has seen accelerating buyer demand and declining inventory levels over the past month. In Alexandria City, single-family homes hit a median sales price of over $1 million for the first time. Condo/co-op sales also hit a ten-year high, up 61% from last … Read More
*Washington Science Joint Ventures proposed a new project in the White Flint area that would bring over 2.5 million square feet of new development and over 2,000 new residences across 8 buildings. The development, “Rose Village,” would span part of Montrose Parkway. 7 mixed-use buildings would have ground-floor retail; 1 building would have only residences. … Read More
A recent report from ATTOM Data Solutions found that homeowners in the DC area who sold in the third quarter of 2020 earned a record-high average profit of $92,100, representing a 30% increase from the same time in 2019 and 26% return on investment. The previous high was set in the first quarter of 2008. … Read More
Valor Development, the team behind the redevelopment of the Fox 5 headquarters in Friendship Heights, filed new plans with DC’s Board of Zoning Adjustment that offer a glimpse into the project that will break ground next year. Valor will deliver a 50-foot-tall building, containing 177 residences, at 5151 Wisconsin Avenue NW. 10% of the residential … Read More
The DC metro real estate market maintained its momentum in July, as interest rates ended the month at 2.99% and unemployment held below the national average. July marked a ten-year high for median sales prices in the DC region, with the median sales price rising nearly 13% year-over-year to $530,000. The previous ten-year high for … Read More
June marked a record high for DC-area home sales, with 6,046 pending sales for the month, up 17.7% from May, marking the highest level for pending sales in a decade. The number of newly listed homes rose 16.2%, and total active listings fell roughly 5.0%. With inventory levels remaining constrained, the median price of homes … Read More
Housing market activity picked up in the D.C. area in May, with the number of homes that went under contract rising nearly 34% from April, and the number of new listings increasing more than 12%. Compared to May 2019, pending sales and new listings are 7.5% lower, but the acceleration of activity suggests buyer and … Read More
DC’s Office of Tax and Revenue has sent new property assessments to homeowners in the city, and the proposed average residential increase is 3.46%, with significant neighborhood to neighborhood variation. The proposed increase for commercial properties is 3.92%. The assessments are slated to rise the most in Wards 7 and 8, east of the Anacostia. … Read More
Apartment rental rates vary considerably across the DC region based on a breadth of factors including amenities, access to public transportation, and individual neighborhood. Based solely on jurisdiction, Bethesda currently has the DC metro area’s most expensive rents, according to an analysis by apartment search site RentCafe. The average apartment rent in Bethesda is $2,466 … Read More