Hope everyone had a great Valentine’s Day yesterday! Want to give everyone a quick update on what is happening in the real estate market in Columbia Heights!
Market Activity
In January 2018, the # of closed sales from December 2017 overall went down, except for condominiums and co-ops. This is typical for this time of year since it’s not an active time to sell or buy a home. However, the number of homes that sold a year ago is less than the number of homes sold last month.
Pricing Trends
The average price for all home types went down in January 2018 compared to December 2017. However, prices are still higher than they were a year ago. Don’t expect these prices to continue going down. The spring market is around the corner and those numbers are expected to go higher.
Days on the Market
The days on market for all sold property types except townhomes went up in January 2018. This is typical for this time of year since it is the least active time to buy or sell a home. The number days on market compared to this time last year overall are still lower than they were, except for condominiums and co-ops.
I will be back in March to provide another Columbia Heights Market Update!
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