Rarely in a real estate market can you say that it’s a great time to buy and simultaneously a great time to sell but this is the case right now. With interest rates still low it’s tough not to make a case for buying. At the same time, inventory remains low so it’s also a good time to sell. This will be a very interesting year in the local real estate market as DC continues to outshine most of the country. (The information below is deemed reliable but not guaranteed.)

December 2012 December 2011 % Change
Sold Dollar Volume $3,770,000 $4,956,950 -23.95%
Avg Sold Price $314,167 $309,809 1.41%
Median Sold Price $331,000 $364,000 -9.07%
Units Sold 12 16 -25.00%
Avg Days on Market 43 45 -4.44%
Avg List Price for Solds $319,342 $322,972 -1.12%
Avg Sale Price to Original List Price Ratio 97% 93.30% 4.10%

Courtesy of Jason Martin, a real estate professional & resident of Southwest. He may be contacted by phone at (202) 641-0299 or by e-mail at jason@jasonmartingroup.com.

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