Our up-to-date real estate market information can provide you critical information on what homes in your neighborhood are selling for so that you can list your home at a price that reflects the current market and returns the most equity from the sale of your home.

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May 2013

Washington, DC Home Sales Increasing In May 2013

Activity continues to pick up on the Washington, D.C. real estate market, according to the most recent market data.

This is great news for interested D.C. home sellers hoping to get a great price on their property.

Here’s an overview of the recent market activity:

• Currently there are 77 sales pending in the market overall, leaving 154 listings still for sale.
• Those homes priced between $800,000 and $1.2 million have the largest number of contracts pending sale.
• Meanwhile, those homes priced between $800,000 and $1.2 million also has the largest inventory of properties for sale with 28 listings.
• The average list price for all Washington D.C. properties right now is $2,592,008.
• In the last six months, 227 contracts have closed, with an average sold price of $1,401,108.
• Breaking it down further, those homes priced between $800,000 and $1.2 million have the highest number of sold listings.
• On the other hand, 15 listings have failed to sell in the last six months. Listings may fail to sell for a variety of reasons, including too high of a list price and inadequate marketing.
• Those homes priced between $2 million and $2.4 million have the highest number of off-market listings at 4 properties.
• Active listings on the Washington, D.C. market have been on the market for an average of 72 days. 
• Those properties sold in the last six months sold for an average price of $1,401,108 after 52 days on the market.
• Those properties priced between $3.2 million and $3.6 million have sold the quickest in the last six months.
• When you look at the last 30 days, properties have sold for an average price of $1,285,563, after an average days on the market of 50 days.
• The average list-to-sales ratio for this area right now is 96.4 percent.
• Analysis of the absorption rate indicates an inventory of 4.1 months, based on the last six months of sales. 

Listing Your Washington, D.C. Home for Sale

If you’re ready to take the next step toward listing your D.C. property on the real estate market, then please contact us at the Estridge Group.

We’ll be more than happy to assist you by offering you straight-forward advice as well as such helfpul home-selling resources as:

• Your home's value
• Seller tips
• Custom marketing plan

Sellers: Get Your Home Ready To Sell!

When preparing your home for sale, a number of simple cosmetic changes often provide the biggest return on investment. Here are three tips to upgrade your house without breaking the bank:

• Bring in the light: The right light creates the right mood. Adding lights to dark rooms can make your home feel warm and inviting. Bring outdoor light inside by opening curtains and installing economical suntubes.
• Create Space: Many of today's buyers are looking for open rooms. Consider removing unwanted walls to make your home feel more spacious. Buyers will often pay a premium to get a bit of extra room.
• Replace Flooring: Get rid of that old carpet in the den and replace it with today's newer hardwoods and laminates. You don't have to spend a lot to make a big impression!These simple tips can help you sell your home and take advantage of today's market. Please contact us if you have any questions about selling your home. We are here to help!

Looking for the Best Mortgage

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage — whether it’s a home purchase, a refinancing, or a home equity loan — is a product, just like a car, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.

The US Department of Housing and Urban Development offers a free brochure to help guide you through this process. Download a free copy today, and please contact us for a list of preferred mortgage professionals in our area.