The state of the D.C. area real estate market

Dazzling new home in the heart of Chevy Chase designed by GTM. Incredible space exceeding 5,500 SQ FT. High-end kitchen, butler’s pantry and sun-filled family room with fireplace provide amenities and space for comfortable living. All of this plus separate dining room, living room, and gracious foyer make entry-level entertaining perfect. You will be delighted with the luxurious Master Suite as well as 4 other bedrooms and 3.5 baths. Superb finishes throughout and a garage complete this wonderful home. Offered at $2,295,000

David Howell, McEnearney Associates CIO: I want to thank Tom Williams of our Spring Valley office for letting us shoot in this beautiful home at 3304 Cummings Lane in Chevy Chase, Maryland. It’s incredible new construction, and it’s just immaculate. Over 5,300 square feet with five bedrooms and four and a half baths, there are thoughtful details throughout the house. One of my favorites is the crumb vacuum built into the kitchen island baseboard. Click here for the listing details, and I think you’ll be blown away.

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A shift in the market we haven’t seen before

At the start of the year, we predicted that this year’s Washington, DC metro area real estate market would look a lot like 2018: stable contract activity, modest price appreciation, stable mortgage interest rates, and continuing low inventory. With over half of the year in the books, we were mostly right – with one glaring exception: the inventory of available homes.

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How the government shutdown has impacted the real estate market

The partial government shutdown that started right around Christmas and extended through almost all of January undoubtedly put a squeeze on the metro DC real estate market.

We took a look at absorption rates – the pace at which the market is absorbing” the available inventory – in January and compared those to rate the previous January, and there is an inescapable conclusion: the market was slower.

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