October Settlements Up; Inventory Up Over 2012

Inventory for single-family homes rose in the District during the month of October, and inventory also increased in Montgomery County for both condos and single-family homes. Settlements remained strong in both jurisdictions.

Washington, DC
The average number of days on market was down 29.4% compared to October 2012. The median price for condos was up 6.6%, and single-family homes saw an 14.9% increase. Condo inventory remained less than last year with 3.3% fewer listings, but single-family listings increased slightly, 4.3%. Condo contracts rose 23.5%, and condo settlement activity saw a 17.8% increase over 2012. Single-family contracts rose 12.6%, while single-family settlements enjoyed a robust increase of 34.3% over October 2012.

Montgomery County
The average number of days on market was down 22% from October 2012. Median condo prices saw a 5% increase, with the price of single-family homes increasing by 8.1%. The amount of available inventory increased for condos and single-family homes - 22.5% and 8.2% respectively - compared to October 2012. Condo contracts saw a 22.5% rise in October, and the number of new single-family contracts also increased by 9.2%. Condo settlements increased significantly in October, with a 45% gain, while single-family settlements saw a 20% increase.

District of Columbia	October 2013	October 2012	Change
Average Days on Market: Condo & Single-Family Homes	36	51	-29.41
Condo Median Price	$405,000	$380,000	6.6%
Condo Total Active Listings	684	707	-3.3%
New Condo Contracts This Month	373	302	23.5%
Condo Settlements This Month	305	259	17.8%
Condo Absorption Rate (Total Active Listings /New Contracts)	1.83	2.34	-21.8%
Single-Family Median Price	$599,950	$522,000	14.9%
Single-Family Total Active Listings	710	681	+4.3%
New Single-Family Contracts This Month	447	397	12.6%
Single-Family Settlements This Month	360	268	34.3%
Single-Family Absorption Rate (Total Active Listings /New Contracts)	1.59	1.72	-7.6%
Montgomery County	October 2013	October 2012	Change
Average Days on Market: Condo & Single-Family Homes	46	59	-22.03
Condo Median Price	$219,900	$209,500	5.0%
Condo Total Active Listings	500	408	+22.5%
New Condo Contracts This Month	267	218	22.5%
Condo Settlements This Month	248	171	45.0%
Condo Absorption Rate (Total Active Listings /New Contracts)	1.87	1.87	0%
Single-Family Median Price	$462,000	$427,500	8.1%
Single-Family Total Active Listings	1971	1821	+8.2%
New Single-Family Contracts This Month	795	728	9.2%
Single-Family Settlements This Month	667	556	20%
Single-Family Absorption Rate (Total Active Listings /New Contracts)	2.48	2.50	-0.8%

Source: Greater Capital Area Association of Realtors

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Contact Info:

Mynor Herrera
Keller Williams Capital Properties
License 611201
(301) 437 - 1622
For sale by agent/broker

 

OPEN SUNDAY 10/6 9 AM-4 PM! Investor alert!!! This home has been framed out and is waiting for the right buyer to finish!

Mynor Herrera | Keller Williams Capital Properties | (301) 437-1622 4503 Grant St NE, Washington, DC OPEN SUNDAY 10/6 9 AM-4 PM! Investor alert!!! This home has been framed out and is waiting for the right buyer to finish 5BR/4BA Single Family House offered at $149,500 Year Built 2009 Sq Footage 2,526 Bedrooms 5 Bathrooms 4 full, 0 partial Floors 3 Parking Unspecified Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION OPEN SUNDAY 10/6 9 AM-4 PM! Can't make it to the open? Contact Mynor at 301-437-1622 for a private tour! Mynor Herrera proudly presents: 4503 Grant Street NE, Washington, DC 20019 - Investor alert!!! This home has been framed out and is waiting for the right buyer to finish project. This is truly a blank canvas with lots of potential. This large home has three levels and was designed for a two car garage, 5BR and 4BA. Located on a quiet street and within walking distance of the Metro, this home has a lot to offer. Don't wait. Make an offer today! Contact me for details! Mynor Herrera, GRI Top 5% Realtor® Nationwide Licensed Realtor® - DC, MD & VA Partner, Keller Williams Capital Properties - BCC Office Board of Directors, Greater Capital Area Assoc of Realtors DreamHomesByMynor.com Check out my NEW website to: - Search homes for sale in DC, MD & VA - Calculate your mortgage rates and payments - View my beach condo rentals - Read my blog on all the latest real estate news Keller Williams Capital Properties 7801 Woodmont Ave. 2nd Fl. Bethesda, MD 20814 mobile: (301) 437-1622 office: (240) 383-1350 e-fax: (240) 235-7066 mynor@mynorandassociates.com DreamHomesByMynor.com Washington see additional photos below
PROPERTY FEATURES - Garage - Attached COMMUNITY FEATURES - New property OTHER SPECIAL FEATURES - Investor alert!!! Large home has three levels and was designed for a two car garage, 5BR and 4BA.
ADDITIONAL PHOTOS Photo 1 Photo 2 Photo 3 Photo 4 Photo 5 Photo 6 Photo 7 Photo 8 Photo 9 Photo 10 Photo 11 Photo 12 Photo 13 Photo 14 Photo 15 Photo 16 Photo 17 Photo 18 Photo 19 Photo 20 Photo 21 Photo 22 Photo 23
Contact info: Mynor Herrera Keller Williams Capital Properties License 611201 (301) 437-1622 For sale by agent/broker

Posted: Oct 4, 2013, 3:59pm PDT

OPEN SUNDAY 10/6 1-4 PM! Investor alert!!! This home has been framed out and is waiting for the right buyer to finish project.

$149,500 , 5 bedrooms, 4 full baths, 0 half baths, 0 square feet

Mynor Herrera | Keller Williams Capital Properties | (301) 437-1622 4503 Grant St NE, Washington, DC OPEN SUNDAY 10/6 1-4 PM! Investor alert!!! This home has been framed out and is waiting for the right buyer to finish project. 5BR/4BA Single Family House offered at $149,500 Year Built 2009 Sq Footage Unspecified Bedrooms 5 Bathrooms 4 full, 0 partial Floors 3 Parking Unspecified Lot Size 2,526 sqft HOA/Maint $0 per month DESCRIPTION OPEN SUNDAY 10/6 1-4 PM! Can't make it to the open? Contact Mynor at 301-437-1622 for a private tour! Mynor Herrera proudly presents: 4503 Grant Street NE, Washington, DC 20019 - Investor alert!!! This home has been framed out and is waiting for the right buyer to finish project. This is truly a blank canvas with lots of potential. This large home has three levels and was designed for a two car garage, 5BR and 4BA. Located on a quiet street and within walking distance of the Metro, this home has a lot to offer. Don't wait. Make an offer today! Contact me for details! Mynor Herrera, GRI Top 5% Realtor® Nationwide Licensed Realtor® - DC, MD & VA Partner, Keller Williams Capital Properties - BCC Office Board of Directors, Greater Capital Area Assoc of Realtors DreamHomesByMynor.com Check out my NEW website to: - Search homes for sale in DC, MD & VA - Calculate your mortgage rates and payments - View my beach condo rentals - Read my blog on all the latest real estate news Keller Williams Capital Properties 7801 Woodmont Ave. 2nd Fl. Bethesda, MD 20814 mobile: (301) 437-1622 office: (240) 383-1350 e-fax: (240) 235-7066 mynor@mynorandassociates.com DreamHomesByMynor.com Washington see additional photos below
PROPERTY FEATURES - Garage - Attached COMMUNITY FEATURES - New property OTHER SPECIAL FEATURES - Investor alert!!! Large home has three levels and was designed for a two car garage, 5BR and 4BA.
Contact info: Mynor Herrera Keller Williams Capital Properties License 611201 (301) 437-1622 For sale by agent/broker

Posted: Oct 3, 2013, 4:18pm PDT

In D.C.’s tight market, home buyers go extra mile to find possible sellers

In The Washington Post's weekend "Real Estate" section, Michele Lerner reported on something I've been seeing lately. "During the past year, would-be buyers eager to take advantage of nearly record low interest rates have flooded the local real estate market," she wrote. "But the growing demand, coupled with historically low inventories, has pushed the price of the few houses that are on the market out of their reach."

Lerner continues:

Inventories in the Washington area are even tighter than they were a year ago. As a result, real estate agents say, they are stepping up efforts to find pre-sellers -- people who are on the verge of listing and people who perhaps hadn't considered listing but might be persuaded to do so with the right offer.

As always, please contact me, Mynor Herrera, for expert advice on everything real estate. I am licensed in D.C., Md., and Va., and I specialize in Bethesda and Chevy Chase, as well as the subdivisions of Rosemary Hills, Rock Creek Forest, East Bethesda and Whitehall Condominium.