According to April 2009 DC Real Estate Market Report,sales are picking up. So would this be a great time for you to take advantage of this home buying opportunity. My simple answer is Yes. Why? Please read my blog DC Deanwood Real Estate Market Report Zip code 20019 for April 2009. In this blog I give three good reasons why the time to buy a house in DC is now.
Even though average days on the market have increased-which to you can be a great thing. (I will explain this later ),but home sales have increased from 368 houses sold in DC April 2008 to 417 houses sold in DC this month a 13.2% increase. So why should bad news to home sellers such as the average days of a house on the market which increased from 77 days to 92 days be good news to you the home buyer? It gives you more time as a home buyer to either save up money for downpayment and/or closing cost fees(Some sellers pay all of the home buyers closing cost fees),pay off some bills to improve your credit score to get a good interest rate and buy a house in DC that best suits your wants,needs and lifestyle without you rushing. There are too many inventory on the market for you as a home buyer to choose from.
But as of today,there is only six months left for you to take advantage of the $8000 first time home buyer tax credit for DC Home buyers . So if you need to buy a house in DC.-THE TIME IS RIGHT NOW.
Here is the DC Real Estate Market Report for April 2009
|
Residential |
Active Listings |
Time on Market |
||||||
|
Price Class |
2 |
|
4 |
Condo |
Residential |
Condo |
of Units Sold |
|
|
Under $30,000 |
0 |
0 |
0 |
0 |
3 |
9 |
1 -30 Days |
161 |
|
$30,000-$39,000 |
0 |
0 |
0 |
0 |
2 |
2 |
31-60 Days |
59 |
|
$40,000-$49,999 |
0 |
1 |
0 |
1 |
3 |
4 |
61 - 90 Days |
38 |
|
$50,000-$59,999 |
2 |
1 |
0 |
1 |
2 |
7 |
91-120 Days |
32 |
|
$60,000-$69,999 |
0 |
0 |
0 |
0 |
11 |
8 |
Over 120 Days |
127 |
|
$70,000-$79,999 |
1 |
2 |
1 |
0 |
13 |
11 |
Total |
417 |
|
$80,000-$89,999 |
1 |
0 |
0 |
0 |
22 |
5 |
||
|
$90,000-$99,999 |
0 |
1 |
0 |
0 |
23 |
7 |
Type of Financing |
|
|
$100,000-$119,999 |
0 |
1 |
1 |
2 |
29 |
23 |
||
|
$120,000-$139,999 |
1 |
3 |
1 |
2 |
52 |
39 |
Conventional |
191 |
|
$140,000-$159,999 |
1 |
4 |
1 |
1 |
50 |
39 |
FHA |
108 |
|
$160,000-$179,999 |
0 |
4 |
1 |
5 |
50 |
90 |
VA |
11 |
|
$180,000-$199,999 |
3 |
3 |
3 |
5 |
102 |
101 |
Assumption |
25 |
|
$200,000-$249,999 |
2 |
15 |
6 |
16 |
208 |
204 |
Cash |
69 |
|
$250,000-$299,999 |
1 |
10 |
7 |
17 |
218 |
179 |
Owner Finance |
2 |
|
$300,000-$399,999 |
5 |
21 |
13 |
54 |
294 |
336 |
All Other |
11 |
|
$400,000-$499,999 |
8 |
8 |
6 |
24 |
165 |
240 |
Unreported |
0 |
|
Over $500,000 |
13 |
41 |
45 |
51 |
738 |
466 |
Total |
417 |
|
Totals |
38 |
115 |
85 |
179 |
1985 |
1770 |
||
|
Grand Totals |
417 | 3755 |
|
|
Looking for a Real Estate Agent that will help you buy and/or sell your next house? Want a "Free Real Estate Market Report" in your area of choice? Register on my website at DC Real Estate. I can also be reached at my new Active Rain Outside Blog www.GetDCSold.com or Twitter 
http://twitter.com/DCHomesforsale. Please give me a call at 202-378-0283 (Direct) or 301-560-6700 x1154 (Office) at your earliest convenience. Thank you very much. Looking forward to helping you make your home purchase or sale a stress free and very happy one. Have a great day. "Buy home Washington DC" Zip codes 20019,20020,20032,20011
Lanre nice job keeping people abreast of what is going on in the local Real Estate market. I hope your Spring has been going well with lots of sales!
Hi Lanre,
Though these reports don't get a lot of comments here in the Rain, I do think they are very important for consumers. They are reading them!