Home Prices in Cleveland Park DC for December, 2013
Real estate market data for Washington, DC provided by Natalie Dean of www.washingtondcluxuryhomes.net
Cleveland Park Home Prices
2013 was very interesting year for prices increases on home prices in Cleveland Park in fact most would call it on amazing roller coaster ride. The year ended very close to where it began in January of 2013 and would saw a tremendous spike in home prices in the middle of summer. July was HOT for more than one reason This is a high-end luxury community, single family homes have a median sales price of 1.8million and attached homes hover right at a median sales price of 1.5million. Many ask "are there any deals to be found among all this lux properties?" They are few and far between and the best way to find them is to be notified consistently about properties coming available in Cleveland Park and having a competent agent who has the pulse of the market is a must. As you can see from the graph below, listings are selling at about a 98% ratio to list price. Although this is the case always ensure that you don't overpay for your home, have an agent do a thorough market analysis of the Cleveland Park home on which you are making an offer.
If you are interested in how much current inventory on the market in Cleveland Park you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Washington DC, homes have a median time of 54 days on the market before they sell. History shows this is a more aggressive time for sellers than buyers and lower inventory is allowing for multiple offers on homes in Cleveland Park. If this trend holds true the spring and summer market holds longer days on market and more of an opportunity for buyers to make an aggressive offers on a homes. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. But low inventory is one indicator that prices should continue to rise. The trends are interesting and the market is strong so don't wait too long to make that decision to sell.
If you are interested in how much current inventory on the market in Cleveland Park you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Washington DC, homes have a median time of 54 days on the market before they sell. History shows this is a more aggressive time for sellers than buyers and lower inventory is allowing for multiple offers on homes in Cleveland Park. If this trend holds true the spring and summer market holds longer days on market and more of an opportunity for buyers to make an aggressive offers on a homes. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. But low inventory is one indicator that prices should continue to rise. The trends are interesting and the market is strong so don't wait too long to make that decision to sell.
Cleveland Park Home Prices
Cleveland Park Real Estate Report Summary
December 2013 Summary
| Statistic | Values | YoY | MoM |
|---|---|---|---|
| Total Sold Dollar Volume | $21,274,850 | -44.59% | -12.63% |
| Closed Sales | 28 | -31.71% | 0% |
| Median Sold Price | $522,450 | -21.79% | +1.15% |
| Avg Sold Price | $759,816 | -18.87% | -12.63% |
| Avg Days on Market | 54 days | -12.9% | +45.95% |
| Avg Sold to Orig List Ratio | 98.46% | +3.94% | +1.23% |
Find Homes for Sale in Cleveland Park DC
Visit my website to search for homes in Cleveland Park or to be notified when Cleveland Park homes come on the market.
To find out what you home is worth in the current market Email Natalie or call 202-438-1056.Originally posted on http://washingtondcluxuryhomes.blogspot.com/.
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