20032 Congress Heights DC Real Estate Market Report-October 2014
According to an article in the Washington Post DC REGION HOUSING MARKET IS STUCK IN DOLDRUM it said "Uncertainty about the economy has other buyers leery of making large purchases". Guess the same thing can be said about "Congress Heights DC first time home buyers and move up buyers." Not only were sales were down,but it took much longer time to "Sell a Congress Heights DC House".
Here is the Congress Heights DC Real Estate Market Report for October 2014
Here is some additional information not revealed in this "Congress Heights DC Real Estate Market Statistics"
- Average sold price of a Congress Heights DC House for sale was $177,000 in October 2014. That is down 17.21% from this time last year when the average sold price was $213,795.
- Average days on the market of a Congress Heights DC House for sale was 147 days. This time last year it took only 65 days to sell a Congress Heights DC House.
- Average sold price to original list price ratio was 96%. That is up 2.29% when the average sold price to original list price ratio was 93.9%.
- Four out of the Congress Heights DC Home buyers used Cash to purchase their homes. Two of them used a FHA Loan,one used a Conventional loan and the other home buyer used a different kind of financing.
- 5 out of the 8 homes for sale in Congress Heights sold within 90 days or less.
Click on this link to view the price and photos of this Four bedroom,three and a half bath Congress Heights DC House for sale. 506 BRANDYWINE ST SE Washington DC 20032
The low housing activity in Congress Heights DC can be due to us approaching the end of the year and the Holidays coming up. But with the decrease in interest rates(currently at 4.07% down 0.11 from this time last week),first time home buyers especially in Congress Heights DC where housing is even more affordable should take advantage of this golden opportunity.
And with more home buyers putting their home buying process on hold,it gives the eager and serious ready,willing and able home buyers more housing inventory to choose from.