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Irina Thomas
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Irina Thomas - McEnearney Associates, Inc.
Irina Thomas
Office:
202-552-5600 x639
Direct Dial:
202-552-5639
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Metro Washington Residential Real Estate Market Report 2007
(Click to Download)
Featured Listings
Washington DC MarketWatch - The Promise - And The Perils - Of Pricing
The market has continued to be sluggish in Washington, DC, with year-to-date new contract activity falling almost 30% compared to the first five months of 2007. However, as the table on page 2 shows, DC is the only jurisdiction in the metro area with a year-to-date increase in the average sales price, up 4.7%. While some the outlying areas have seen increases in contract activity, those increases are the result of home prices that have dropped significantly. Nowhere is the impact of falling home prices more apparent than in Prince William County, Virginia. Year-to- date contract activity there is up almost 75%, but the average sales price is down almost 30%. When the price is right, there are buyers out there. We prefer the relative stability of the DC market, which has not seen the huge swings in home prices! More