Market Update: November 2015 Housing Statistics for the Washington D.C. Metro Area

These statistics are exactly consistent with what I've been experiencing lately with my clients. I cannot stress enough- I know there is the old stigma against salespeople, but this is hard data!- inventory is down and demand is up. This drives the prices of homes up, and it's been going this direction for 12 months straight now. It doesn't look like it's slowing down in the foreseeable future either. The Spring 2016 market is going to be here before we know it. Yes, there will be more homes on the market to choose from, but there will also be probably double the number of buyers. If we are seeing multiple offer situations in the dead of winter, Spring is not going to be pretty. DO NOT WAIT to start searching for a home! If there's a chance you can find your next home during these Winter months, you should be out there looking.

Buying a home in the DC Metro Area (Washington, D.C., Northern VA, Prince Georges County, Montgomery County) is only getting more expensive. Those rock bottom prices of 2010-2013 are gone--you missed the boat. Right now getting a "deal" on your next home is actually getting the home. This isn't meant to be doom and gloom, this is a wake-up call! If you are at all interested in buying a home soon, do it now because right now is the lowest price you're going to see on your dream home for quite some time. 5 years from now, you could be selling the home at a profit the way the market is going. And don't even get me started on mortgage rates...

To read the DC Metro Area report, Click Here. For the Baltimore Area Market Report, Click Here

Are you a current homeowner that is thinking of selling? Now is a great time- there is a huge demand for housing right now and many qualified buyers out looking. If you wait for the holidays to be over and the spring market, you will be facing more competition and a longer wait time to sell. Ask me how I can sell your home for top dollar. Need to know the value of your home? Request a home valuation here.

Questions? Post a comment below!

Lothian MD Homes for Sale - Genna Fleming, REALTOR® with EXIT ELITE REALTY
You now have free access to Southern Maryland’s Ultimate Real Estate Search Engine! Your local real estate expert has the knowledge and experience to deliver the unsurpassed service you deserve. Local Specialty: Upper Marlboro, Lanham, Lothian, Edgewater, Annapolis, and Dunkirk as well as all of Southern Anne Arundel County and Southern Maryland. Google or call me today and let’s discuss how I can save you $1,000’s when you buy or sell real estate. Call Genna Fleming at (443) 532-8917 or @Ask_Genna by visiting www.AskGenna.REALTOR.