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

In this video, we’re continuing our conversation about absorption rates.

But first, I’d like to thank Emily Gordon and Phillip Allen of our DC offices for letting us shoot this video in their incredible new listing at 3039 16th Street, NW in Columbia Heights.  Unique is a word that’s overused – but this 2 level, 2 bedroom condo really is unique.  20-foot ceilings, 18-foot windows, magnificent views, incredible smart home features and a private elevator right to the unit.  Take a look at the info below, click on the link and enjoy!

Evaluating the impact of absorption rates is really a matter of leverage.  The higher the rate, the more bargaining power the seller has. Let’s take a look at the conditions right here in Columbia Heights.  Over the last several months, the absorption rate for condos has been right around 35%. That’s a seller’s market, and the results show that.  Since the first of the year, condos here have sold for an average of 99.5% of original list price in an average of 34 days. Good stuff!

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State of the D.C. area real estate market: Where did all the listings go?

We’re now firmly in the spring market, and there’s one question that has emerged that’s pretty hard to avoid: What happened to listing inventory in the City of Alexandria and in Arlington County?

At the end of March, most of the metro area had roughly the same number of listings on the market as this time last year.  But in Arlington County, inventory is down 40%, and in the City of Alexandria, there were exactly half as many homes on the market.

Half.

Where did the listings go?  Contract activity is a little higher than last year in both of these areas. But it isn’t contract activity that accounts for the big drop in inventory.

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The real estate market post-government shutdown

With the government shutdown in the rearview mirror, we were curious how the market fared in February.  And it probably won’t surprise you that, since all real estate is local, there were some considerable differences.

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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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Winter prep from top to bottom

As the temperature drops and the weather outside is ever more frightful, be sure your home, townhome, or condo is ready to bear the winter force of Mother Nature. From freezing temperatures to snow and ice, winter weather can be harmful to your home and exceptionally costly. Prepping your home for the winter months seems almost daunting, but it will protect you and your investment. You might also find some energy saving tips helpful to put save some extra cash after holiday expenditures. You’ll have snow problem surviving winter with these tips to help protect your home, your car, and you, as the winter begins to come in full force.

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Pet safety tips to follow during the holidays

Image credit McEnearney Associates

For pet lovers, the holidays aren’t complete without our furry friends. While we celebrate, we must ensure our pet’s safety is top of mind. What may seem safe to us might actually be harmful to them. We’ve found some useful tips to follow to keep them healthy and happy.

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Home maintenance tips from McEnearney Associates

Now that summer is winding down and we are thinking of hunkering down for the cool weather, it is an opportune time to catch up on routine home maintenance — but where to start?

For many, a home is their largest investment. Keeping track of these items can seem more manageable and less daunting once you realize how simple some tasks can be.

Grab your tool belt, and check out these often-overlooked tips from our Associates.

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