July Newsletter: Save the Date, Market Stats & Summer Fun

All the best,

Martin, Jeff, Olivia & Dito

Compass lead the way in DC during the spring market with over 20% market share, the highest yield on asking price, and the lowest days on market at 20 days.

Across the DMV, the time homes were on the market before being sold, on average, increased year-to-date — from 31 to 40 days in DC, 32 to 33 days in Northern Virginia, and 43 to 53 days in Montgomery County.

(1/1/18-6/26/18 vs 1/1/19-6/26/19) 

At the same time, the median price of sold homes decreased by 0.3% in DC, while increasing by 0.9% in Northern Virginia, and 0.5% in Montgomery County compared to the prior year. 

(May 2018 vs May 2019) 

Market Update: Across the board, the number of homes sold throughout the DMV has decreased, as have the prices for which they sold. In short, the demand for homes isn’t quite as great as a year ago, so there is more room for negotiation on the buyer side.

(Data courtesy of BrokerMetrics)