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District of Columbia, DC Real Estate News

By Buzz Mackintosh, “Experience, reliable, leadership”
(Mackintosh REALTORS)
  On Tuesday I attended the NAR mid -year legislate meetings, trade show and then joined the Maryland FPC - (Federal Political Coordinator)  team for the 2024 Hill visits.  My morning started by jumping into rush hour traffic to the Shady Grove Metro station. I arrived at the convention center and wandered around the trade show before meeting the other FPC's to take a bus to Capital Hill.  Our group from Maryland was divided up based on the representatives from our specific districts. Our group visited Congressman David Trone of the 6th district in Maryland. After going through security in the Rayburn Building we made our way to Congressman Trone's office where we were able to discuss the NAR priorities with his Staff. We each took turns sharing experiences and explaining why each of ou...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Mother's Day is such an important day to me, not only because I myself as a mother but to celebrate all women out there who strive to be a better loving figure in and out of their homes, becoming the best moms they strive to be. So to all amazing moms out there, this one's for you!I'm thrilled to announce a special giveaway! One lucky mom will win a $150 Visa gift card to treat herself to a spa day! Because let's face it, moms deserve ALL the pampering in the world!To enter the event, like or comment on this post,and tag a fellow supermom who deserves a spa day too! Each tag counts as one entry.Giveaway is drawn on Friday, May 10th, so make sure to get your entries counted. Happy Mother's Day!
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By Patricia Kennedy, Home in the Capital
(RLAH@properties)
Cleveland Park really has it all. There is a Metro Station, the National Zoo, and lots of interesting neighbors. It's got some wonderful old houses, a few dating back to the 1700's.  Most were built to allow the citizens of Washington to get away from the hot, humid capitol with its heat, humidity and especially aggressive mosquitos. Some are Victorians and others Queen Ann. There are many architectural details. like turrets, gables, and gingerbread. There is nothing cookie-cutter about this neighborhood.    Houses: There are only two for sale right now - the good ones fly off the shelf in about a nano-second: View Listings  One is listed for $2875,000. It's situated on a heavily wooded lot surrounded by parkland, and it's new construction by Washington standards, built in 1989.  The ot...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Let's jump right into the latest scoop on the DMV housing scene. Things are buzzing across the board, with condos taking a breather. The snag? Interest rates are giving buyers a run for their money, but the luxury market ($1.2m to $1.5m) is still sizzling, from cash deals to hefty down payments.Who's in the mix? Many buyers are cashing in on equity or upgrading to dream homes. Surprisingly, 39% of homeowners nationwide are mortgage-free, eyeing luxury digs.Hold tight - Fannie Mae predicts a steady 6% interest rate ahead. Waiting for a dip? Don't hold your breath, at least for 2024. Meanwhile, median home prices are soaring, and days on the market are ticking away.But here's the kicker - inventory is on the rise. Options aplenty for buyers, though properties fly off the shelves, often by...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Attention: another market shift happening in the DC Metro area! This has been recently happening, especially in areas like Northern Virginia, including Arlington, McLean, and Vienna.Previously bustling with activity, we're now observing a significant slowdown. Homes that used to attract multiple offers within days are now lingering on the market. This is good news and all if you're a buyer sick with multiple offers, but the interest rate isn't exactly going to help you.Interest rates are currently hovering around the low sevens, and some lenders are even offering rates below seven with a point. Due to these rates, the overall market is experiencing a slowdown.Sellers' agents are reaching out for feedback, wondering why potential buyers aren't biting. If you're in the market for a long-t...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Welcome back to our mid-week market report, where we dive into the bustling real estate scene of the DC metro area and Northern Virginia. Let's cut to the chase and see what's been happening this week.New ListingsThe numbers are in, and they're telling us a story of significant activity. With a whopping 28% increase in new listings compared to this time last year, the DC metro housing market is buzzing with activity. But here's the kicker - these listings are getting snatched up faster than you can say "sold."ShowingsShowings are up by 25%, indicating a keen interest from potential buyers. It seems like everyone wants a piece of the action in our vibrant housing market.Escalating PricesHold onto your hats, folks. In certain pockets of Northern Virginia, we're witnessing jaw-dropping esc...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Check out our Mid-Week DMV Market Update! Here’s what you need to know:Over the past five weeks, we've witnessed a steady rise in inventory levels across the DMV area. Since mid-February, the supply of available homes has been steadily increasing, with active listings seeing a 1.1% uptick from the previous week.Despite the slight dip in new contracts compared to the same period last year, the market is showing resilience. As we gear up for the spring season, traditionally a time of heightened activity, we anticipate contract numbers to rebound, reflecting the usual uptick in buyer and seller engagements.While the record list price of $420,000 remains unbroken, there's been a noteworthy 5.2% uptick in median list prices compared to this time last year. This suggests a robust demand for h...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Hey there! Check this mid-week market report for the DC Metro area, where we cut through the noise and give you the facts you need to know about the current state of the housing market. Let's dive right in.New Listings SurgeThis week, we're seeing a notable surge in new listings compared to the same time last year. With 5,734 new listings in the Bright MLS service area for the week ending March 17, that's an impressive 8.0% increase from last year. Sellers are stepping up, offering more options for buyers in the market.Record High Median List PriceHold onto your hats because the median list price has skyrocketed to a new record high of $420,000! That's a 5.0% jump from last year and a 1.2% increase from just last week. It seems like every other week, we're breaking new records, and with...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Are you curious about the latest trends in the DC Metro housing market? Here's a roundup of what's been happening in the past week.Growing InventoryGood news for buyers! Last week saw a 6.9% increase in new listings compared to the same time last year. This marks the fourth consecutive week of surpassing last year's numbers, indicating a healthy boost in inventory.Stable Contract TimesWhile homes are taking slightly longer to sell compared to the previous week, the downward trend in median time to contract has stopped. Despite this, homes are still selling two days faster than they did last year, maintaining a swift pace in the market.Affordable PricesThe median list price in the Mid-Atlantic region dipped slightly below $400k, a 2.5% drop from the previous week. Despite this decrease, ...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
In the middle of the week, Tuesdays are special for real estate folks like me. They give us a chance to catch our breath and focus.But more than that, Tuesdays are when we get a second look at homes that didn't sell over the weekend. It's a time to talk to other realtors and see what's out there.For people looking to buy a home, Tuesdays are a great time to reach out to us. There might be hidden gems waiting to be discovered.In my experience, Tuesdays have led to some great deals, even when the market is tough.So, let's remember to give Tuesdays the attention they deserve in the world of real estate. Happy Tuesday!
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Hey there, whether you were celebrating Valentine's, Galentine's, Friendship Day, or just making it through today, I hope you're having a fantastic time! Let's talk a bit about what's going on in the DC Metro housing market lately.For those of us who've been around here for a while (like me, 25 years and counting!), we've seen the housing numbers climb up and up, which is pretty great news. But with that comes some challenges, especially for buyers. Interest rates recently hit 7%, and that meant some of my clients missed out on homes because of all the competition.If you're thinking of selling, now's the time to act! Seriously, don't wait around for spring or summer—get your home on the market while the getting's good. And if you're considering investing elsewhere, I've got connections ...
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
The Fed Created a DC Home Buyers Market, Then Priced Non-Cash Buyers Out As mortgage interest rates inflated, the DC market slowed, offering buyers a rare opportunity... but they quickly found that higher rates meant tighter lending conditions and huge payment hikes. With the Fed repeatedly dismissing hopes of meaningful 2024 rate reductions, many buyers sat out the one opportunity they may have had to purchase in the District without mad bidding wars, price escalations and harsh terms.   The Numbers Told A Different Story Total sold dollar volume for 2023 shows a significant contraction, declining by 22.19% to $5.33 billion from 2022’s $6,847,085,812. The number of units sold saw a substantial drop of 21.97%. The median sold price, a key indicator of market health, experienced a more p...
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Columbia Condos for Sale: Spectacular Historic Mixed-Use StructureThe Columbia including Columbia Condos for Sale is a spectacular historic mixed-use structure in the center of Washington, D.C. The Columbia, built at the turn of the 20th century as a women's hospital, had a radical reconstruction in 2006. In its current state, it provides 225 luxurious residences and 28,000 square feet of ground-floor retail space, including the ease of a Trader Joe's. Each apartment features spacious open floor plans, exquisite finishes, and modern design elements that lend a sense of refinement and elegance. For visitors of owners, there are also small rental apartments available. It is a pet-friendly neighborhood that is close to the Foggy Bottom Metro. The Kennedy Center is a must-see for locals, wh...
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By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
(Samson Properties)
Today, I'm delighted to introduce Chef Rupa Vira, a pioneer in our region to introduce the first all-vegetarian Indian restaurant (Signature) and an upscale restaurant (Celebration) without heading to DC.She also has Rupa Vira’s Catering Services which is one of the leading Indian caterers in Virginia, Washington DC, and Maryland! In all her culinary endeavors, she's all about bringing that authentic taste of India. Chef Rupa Vira crafts her dishes with a genuine blend of Indian spices, and freshness is always a guarantee.You could call her a Restaurateur, a Caterer, and an Executive Chef – she's earned quite a reputation in the area!Check out both of her restaurants and catering services here:https://www.instagram.com/celebrationva/ https://www.instagram.com/thesignatureva/ https://rup...
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
The 2023 DC Real Estate Market vs 2008 The 2023 DC Real Estate Market Isn't a Throwback To 2008 There's nothing like a year of drastic mortgage interest rate hikes on top of breathtaking price increases to bring back bad memories of the 2008 real estate market crash, and its subsequent fallout, which lasted half a decade or more for many in the U.S. 2022: Year-over-year CPI peaked at 9.1% in June, and monthly readings since have steadily declined. After bottoming out at 2.65% in January of 2021, mortgage rates peaked in October 2022 at just over 7% and since have adjusted down, currently averaging in the high 5% to mid-6% range.  It was the sudden, dramatic increases made by Fed Chair Powell that have most concerned U.S. consumers, 41% of whom say they now fear a housing crash in the ne...
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By Andrea Bedard, Fluent in Real Estate & German, M.A. ABR ASP CIPS
(Thompson Company, REALTORS® 240.593.2860)
the other night in DC#nofilter♥ It's always been the vintage, the old house charm and the original details that I adore the most, that draw me in, make my [REALTOR®] heart flutter, and prompt me to pause, to listen, and then to retell their stories. I specialize in finding and marketing charming homes that are unique and rich in character, or history, or both. I believe in preservation, second chances, saving the pink bathrooms, and front porch living. In this series I highlight charming homes that I am listing to find just the right buyer for or I am admiring with my special clients; or that have simply caught my eye while exploring the [historic] communities of Maryland and [far] beyond. Adore charming homes as much as I do? Then I'd love it if you'd follow me on Instagram, @onceupona...
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
A little rate increase, and forecasts for a little more, and a little more, with no definite end in sight.A little more pain and a promise for more to come from Fed Chair Jay Powell after today's FOMC meeting. Today's rate hike of 0.5% lifts the terminal rate projection to 5.1%. It was the 7th and final rate increase of 2022, to the highest benchmark interest rate level in 15 years. Powell answered questions about possible 2023 rate cuts, and the likelihood of a 2023 recession at the presser following the meeting.Read the full post 
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
DC Assumable Mortgages: Seller Advantage? If you're a home seller in the District of Columbia with an assumable mortgage, you're probably asking the question; Is it a big advantage in the current market?With a decade of historically low mortgage interest rates, low inventory and stiff competition, FHA | VA represent a much smaller portion of mortgages in the District of Columbia.Then rates shot up this year.So now, borrowers are rediscovering assumable mortgages and reassessing their relevance in the DC real estate market.What's An Assumable Mortgage?It's one that can be transferred from the current mortgagee to a qualified buyer, reassigning the terms agreed upon when the loan was first originated.​ How Does That Work?In simple terms, the seller checks their loan contract and confirms ...
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
If you're shopping for DC real estate in the current market and dismissed the idea of discounted mortgage loans, maybe think again. 🤔Programs like the 5/1 ARM can offer rates a full percentage point or more below 30 year fixed rates, lowering your monthly payments while increasing your purchasing power. And that addresses two major challenges for DC home buyers right now: soaring mortgage interest rates, and tougher loan restrictions.We tell you the why's and how's here:https://realestateinthedistrict.com/dont-waive-your-arms/For a quick take, listen to our audio clip 
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By Susan Isaacs | DC Real Estate Consultant, Partnering with: DOMOofCompass
(Compass | 1313 14th St NW DC 20005)
Well you're not alone! 😆 There’s more than a little confusion surrounding the national real estate market right now, and here in DC things aren’t much different. Sellers wonder how they went from pre-market bidding wars to double digit days on market, buyers are shell-shocked by rapid-fire rate hikes, investors are holding back, hoping for more price improvement, and real estate agents? Just trying to hold it all together while we help clients navigate a transitioning market.Here's our take this first week of November 2022.  Read the full post at realestateinthedistrict.com
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