Despite the pandemic, we are experiencing a genuine real estate boom in the close-in Metro area. In our 15 years of writing this report, we have never seen numbers like this: September sales were up an unprecedented 65% over last year at this time, average price was up 12.3%, and days on market were down 39%. Traditionally, September is never one of the biggest months… but it is this year!
The usual peak spring market didn’t happen until summer, and it’s still racing along into fall, with very low interest rates fueling buyer enthusiasm. Here is our advice: if you were ever considering selling, this is the best time in years. Be sure and make your house look its best with painting and staging, follow your real estate agent’s recommendations on pricing your property, and you will be happy with the results.
*Statistics are taken from Bright MLS for the District of Columbia, Montgomery County in Maryland and Arlington, Alexandria and Fairfax County in Northern Virginia.