DC housing market tops pre-recession level
Housing prices in the metropolitan Washington, DC, area have surpassed their 2007 peak, according to the Washington Business Journal. People thinking about buying one of the houses for sale in Washington, DC, should take note of this escalating trend and consider entering the market sooner rather than later.
The median sale price of homes in and around the District topped $455,000 last month, almost $20,000 higher than the peak it reached in 2006, the news source reports. This rise represents a 4.6 percent increase over the same time last year.
In a similar vein, homes were on the market for an average of 53 days, which was a 15.87 percent decrease from 2011, according to RealEstate Business Intelligence. As homes sell for more money and remain on the market for fewer days, it is a good time for buyers to jump into the market before the price and pace accelerate any more.
With the region's housing market showing no signs of slowing, people considering purchasing real estate in Washington, DC, might want to speed up their searches.