Washington DC Real Estate Market Report

The recession and post-recession phase posed as difficult times for all businesses, especially for the real estate market. However, with time the market is overcoming these troubled times as evident from the Washington DC Real Estate market. Washington DC realty has increased in value, by 137.8%, as compared to the dismal figures recorded in the previous year, i.e. 2008.

Property in Washington DC has increased in value, with the average price for every square feet rising to $944. The median sales price for houses Washington DC has recorded a figure of $395,000 in the last financial quarter. Be it two-bedroom apartments or condominiums Washington DC, the rates for houses have increased from those recorded in the last year by a relatively large margin.

Washington DC listings reveal that the figures stand at $990,218 and $2,578,959. The price of the houses of Washington DC depends on the neighborhood they are located in. The average listing price of houses at Columbia Heights is $453,644; at Stanton Park it is $557,827; at Adams Morgan it is $735,162; at Dupont Circle it is $990,218; at Georgetown it is $2,578,959; and so on.

Washington DC real estate gives a clear picture of the real estate scenario in USA. The increase in sales as well as the widening of the price range is indicative of a real estate market that is gradually overcoming the economic lowdown and emerging and expanding its horizons for a better tomorrow. With time, Washington DC real estate is sure to emerge as a profitable enterprise in near future.

Washington DC Real Estate - Market Report

According to the latest statistics, the average price of Washington DC homes as per the listing was $264,062 and sold at $258,161. The average price at which per sq feet home is available in Washington DC is $100. The last year this rate was $122.

The latest listing published displays a list of houses in Washington DC in which there are about 52 available homes for sale with two or less bedrooms though active list claims to have 166 entries. Similarly entries of Washington DC condos sale as per the same list is more than 1500.

The foreclosed homes Washington DC price varies with locales. For example, a home with six bedrooms and two washrooms in South East of T Street is worth $140,000 and with three bedrooms and two bathrooms in Montello Avenue NE is $225,000.

The range of Washington DC rental homes varies from $500 to $4500 depending on various factors like location or distance from the downtown, amenities provided, property managers etc. But the average rent lingers around $1000. Houses within 5 miles from the centre of DC ranges between $1800 to $4500, some of these houses can be availed at a price as high as $7200.

If you are looking for new Washington DC condos, then this is the apt time to buy one because recently the price fell by 3.6%. According to the statistics of last year November, nearly 1100 condominiums were about to face foreclosure by the year end due to the sub-prime crisis.