Homes sales in Washington, DC perked back up nicely in February. Historically low- mortgage interest rates and mild weather had home buyers shopping all winter long. Of course, these stats represent the time period before the Coronavirus outbreak. Next month, we’ll begin to see some of the early impacts of the pandemic.
Check out our recent blog post (link) to read our assessment of how COVID-19 may impact the D.C. Real Estate market.
The Numbers Month to Month and Year to Year
The median sales price for Washington, DC Homes for Sale was $590,500 in February, a .3% increase over the same month in 2019. The median sales price was $550,000 in January.
The number of Washington, DC Homes that sold was 626 in February 2020 vs. 505 that sold in February 2019. This represented a stunning 24% increase. By comparison, 568 homes sold in January 2020.
There are 1,188 Washington, DC Homes for Sale that are in contract which represents 98% of the overall available inventory of 1,210 homes. That’s right; for nearly every home that was on the market at the end of the month, there was another one that was under contract. We need more homes to sell, people! Buyers are ready and willing.
All of these changes affect your home value. If you want to know the new value of your home, click here!
A few highlights of the current Washington, DC Homes for Sale are shown below and represent a nice cross-section of properties available, under contract and that have sold.
This Month’s Most Expensive
The most expensive of all Washington, DC Homes for sale last month was a Georgetown condo sold at a cool $3.1M. This beautiful waterfront home offered scenic views of the C&O canal through floor-to-ceiling windows.
This Month’s Least Expensive
The least expensive of all Washington, DC homes for sale was a 2 bedroom, 1 bath condo in the Barry Farm neighborhood of SE DC. It sold for $55,000. This “handyman special” is likely to be a good investment property for the lucky buyer.
This Month’s Must See
There were some great Washington, DC Homes for Sale to consider for this month’s ‘Must See’ home tour.
This expansive 3 bedrooms, 3.5-bathroom Federal row home is an opportunity you do not want to miss. (schedule a showing).
This totally renovated home in the Brookland neighborhood sports a classic front-porch traditional home, but has completely new amenities inside (schedule a showing).
Finally, this renovated 16th Streets Heights home has over 2000 finished square feet with 3 bedrooms, 2 full bathrooms and a finished basement (schedule a showing).
Love Living DC is Washington’s #1 real estate team for dependable neighborhood expertise.
If you have any questions about buying, selling or investing in DC real estate, feel free to reach out to me anytime. I’d be happy to help.