Usually I'll alert people to this event, but this month, it's history.
This short Market Update which I gave looked at the local market and wondered if that the media is saying was really true. I spoke of Zillow-Trulia-Realtor.com and how they were shifting positions. This would represent uncertainty for a few months.
One of the big players on the sides is Redfin, who's got a good strong presence in the Washington DC market and across the country. That gives merit and gravitas to whatever they "pronounce". This month, they've defined Washington as a market at the top. This little whisper can cause concern to the buyers, to the appraisers, to the sellers; and voila, the market corrects itself based on a media position.
If you walk through this presentation, try to hear my voice alongside. You'll hear me point out that while 6 of the top 30 markets were indeed DC markets, the highest of that was #12, and really, really, that was only 7% growth year over year, which is much less than many other markets on the set of 30.
In a nutshell, I was suggesting...yes, this is a healthy market, perhaps more robust than I feel comfortable with, though I'm not in agreement that we are fully overheated. I don't want much more heat, but it's toasty.
The map of DC with the hot neighborhoods was my telling people "if this was 2014, where do you think the hot neighborhood of 2015 will be?" As it turns out, this week, Redfin said that would be Woodridge, which is immediately east of Brookand here in Washington, DC. That, I am in agreement with. And as my buyers from a few months ago said when I sent them this report "thank you for making us trendsetters".
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