August was another record-breaking month for the DC metro area housing market. Sales volumes were up 16%from the same time last year and the median sales price was the highest it’s been since August 2007. Inventory declined for the fourth month in a row, down 16.4% from this time last year, yet still slightly above the the 5 year average and 23% higher than the low in August of 2013. This is consistent with what we are seeing in offers. Properties are selling, buyers are buying, and prices are healthy, but not super inflated.
An ever so slight interest rate increase last week
caught attention, but rates are expected to stay nearly this low for the remainder of the year, with bets placed that next year we may see a more substantial uptick. If you are considering buying, but uncertain about what financing options are best for your situation, just ask. We work with a lot of great lenders and can help you find the right one for you.
Interested in buying your first home? Or need a refresher while thinking about your next move? We are hosting a free Home Buyers seminar Tuesday, October 11th, at 7pm at Capital City Brewery in Shirlington
. You will learn about the entire process from searching for your dream house to closing on it. We will discuss the current housing market, how to decide if renting or buying is best in your situation, financing, and more. Register here
to join us.
Mark your calendars for our upcoming Client Appreciation Event
at Williams-Sonoma and Pottery Barn in Clarendon. We have arranged a PRIVATE shopping event with tablescape demonstrations for the upcoming holidays, refreshments, plus a chance to shop to contribute to Care for Kids benefiting Children’s National Health System. For Wethman Group event attendees, when you buy a $50 gift card, the hospital program gets $50, YOU get $50 that can be used in either store or many other stores and restaurants
AND 20% off at those participating stores through October 30th
. We’re excited to be part of this great partnership between local businesses and this great cause. Join us!
File under: Neat House, Sears Catalog Edition. Listed (and already sold) for the first time in our lifetime, this“gingerbread house” in Cleveland Park
is a charming reminder of the simpler times in home acquisition. Can you image just ordering and putting it together following a guide with numbered parts?
Things are slightly more complex these days, but we are here to help! If you or someone you know has a real estate need, we’d always love to hear from you.