The Evers & Co. April 2018 Real Estate Report

We seem to be repeating ourselves, but the numbers frequently tell the same story. Once again, the District was so far ahead of the other jurisdictions in April, ita��s hard to believe they are all part of the same Metro area. The District showed a 27.8% improvement over last April in dollar volume of sales compared to +1.3% In Montgomery County and +2.7% in Northern Virginia. As for average price, Northern Virginia only had a 1.5 % increase, Montgomery County actually had .5% decrease while DC showed a 16.8% increase.
Even though DC prices and competition for properties that come on the market is daunting for buyers, proximity to transportation, jobs, cultural amenities and exciting entertainment and eating venues is still a very big attraction, and the trend is not liable to change anytime soon.

*Statistics are taken from the Metropolitan Regional Information System for the following areas: the District of Columbia, Montgomery County, Maryland and Fairfax County, Arlington and Alexandria in Northern Virginia.

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The Evers & Co. Real Estate March 2018 Real Estate Report

Average price was down 4.5% and dollar volume of sales was down 6.8% for the month of March compared to last year, but ai???days on the marketai??? were also down, indicating faster sales. Surprisingly, the District had the biggest loss in dollar volume of sales with -10.9%. Both the District and Northern Virginia were down in average price, but Montgomery County showed an increase in average price of 7.2%. The fact that days on the market were down even with this lack-luster performance across the board indicates what everyone in real estate already knows-
there is still a great shortage of product, and when a new listing that is well priced comes on the market, it sells in days if not hours! Weai??i??ll have to see if this slow-down in price and volume continues for the next quarter, which is historically the biggest sales quarter of the year.

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The Evers & Co. February 2018 Real Estate Report

The Evers & Co. February 2018 Real Estate Report

Comparing this February to February 2017, we find lower numbers in both Fairfax County and Montgomery County; Fairfax was down 9.8 % in dollar volume of sales and Montgomery County was down 16.8%. Also, the average price in Fairfax was down .5%, while Montgomery County was down 5%.

Even the District was quieter, with only a 3.3% increase in sales and a surprising 6.1% decrease in average price. It’s never a surprise that the District is showing more success than the other jurisdictions, but the drop in average price was surprising.

Overall, the District was the most successful jurisdiction in 2017 compared to 2016, with a 13.5% increase in dollar volume of sales and a 4.5% increase in average price. Montgomery County showed only a 3.3% increase in dollar volume of sales and only a 3.5% increase in average price. Fairfax County has a 6.6% increase in dollar volume of sales in 2017 compared to 2016, and a 4.3% increase in average price.

Overall projection for the area continue to be positive, with expected gains in price and sales. Also, the continuing problem of short supply and high demand is expected to be even greater for this spring selling season.

*Statistics are taken from the Metropolitan Regional Information System for the District of Columbia, Montgomery Country in Maryland and Fairfax County, Arlington and Alexandria in Northern Virginia.

 

Evers & Co. January 2018 Real Estate Report

The year started off slowly, with a 4.86 increase in dollar volume of sales over January 2017, a 4.1 increase in average price and an 8% decrease in days on the market, and without the bullish Alexandria numbers, the dollar volume of sales would have been -2.3% and the average price only +1%. The diminishing days on market is telling because it means that the properties that did sell, sold faster.
According to all the economic predictions, we are looking toward a spring market that will have an acute shortage of properties for sale and a lot of buyers. So buyers should know that when opportunities come along, they will have to have their finances lined up and move fast. Sellers need to know that even though there is pressure on price, buyers shun houses that are overpriced, while well-priced homes can often expect to get multiple bids, which will certainly be a factor in driving prices up this spring.

*Statistics are taken from the Metropolitan Regional Information System for the following areas: The District of Columbia, Montgomery County, Maryland and Fairfax County, Arlington and Alexandria in Northern Virginia.

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