Houses in Washington DC- A Unique Investment in the Real Estate Market

Washington DC, the capital of United States, has a metropolitan area that ranks ninth among the largest metropolitan areas of the country. The Washington DC real estate market is a thriving economic sector of USA. The most popular houses in Washington DC are located around the central mall, which also includes the White House, memorials of the greatest presidents and the wonderful museums of the Smithsonian Institution. There are 151 private and public educational sites comprising of top high schools, universities, colleges and other educational institutes that are located in the area.

Washington DC new homes for sale are categorized according to their location in four sections of the city namely northeast, northwest, southeast and southwest. Northeast Washington is the favored region. Some of the popular neighborhoods are Stanton Park, Michigan Park, Georgetown, Brightwood Park, Dupont Circle, Columbia Heights, Bloomingdale, Cleveland Park, etc. The average cost per square foot for houses in Washington DC has declined by 1.5% as compared to the prior year. The median price for September 2009 to November 2009 was $369,000, this rate is an increased of about 1.1%, which amounts to almost $4000.

The average listing price for Washington DC new homes was $627,017 in December 2009. The average listing price has seen a drop towards the end of December but positive fluctuations have already started.

There are presently 3,888 resale and 640 homes in the pre-foreclosure or auction categories available. Recently 2,645 houses have been sold in the city. Steady progress in retail, residential, education, tourism, hospitality, media, and communication has made Washington DC an unparalleled place to settle.