Recent statistics published in the Washington Post indicate that the DC real estate continues to experience a resurgence in demand and home prices.
Market analysts point to an almost 20 percent increase in real estate sales for January 2017 over the same month in 2016. Median home prices in many neighborhoods have risen dramatically; some areas have seen increases of more than 25 percent over the past year.
Average Sales Prices Also on the Uptick
The inner core of the District of Columbia saw a 20 percent increase in total volume of sales, making it one of the fastest growing areas in the region. Average condominium prices increased by more than 12 percent to $371,351. This increase in sales and prices is attributed to an improving economy and increased demand for housing options in the heart of the District of Columbia.
Fresh Hope for DC Real Estate Spring Sales
The resurgence in sales experienced during the recent winter months has inspired greater optimism among real estate analysts for even more growth in the DC real estate market. Spring is traditionally a time of higher sales. If this pattern holds true to form, real estate agents and lenders can expect a significant influx of buyers in the early part of 2017.
Commercial and Residential Title Services Increasingly Important
More commercial and residential sales will likely translate into greater demand for support services in the real estate field. Companies like Champion Title & Settlements can provide the customized closing and signing solutions your agency or lending institution needs to provide excellent service for all your clients.
At Champion Title & Settlements, we offer an extensive selection of services designed to support DC real estate agents, lenders and borrowers in achieving their short and long-term goals. Call us today at 703-444-4100 to discuss your upcoming transactions and to ensure the best possible experience for DC real estate buyers and sellers. We look forward to the chance to work with you.
See also: Top 10 DC Real Estate Stories from 2016