Off To a Good Start–The Spring Market Has Begun

The Evers & Co. February 2012 Real Estate Report

 February showed a marked improvement in the close-in Metro area, compared to January, when the numbers were almost the same as the previous year.  The dollar volume of sales was up 9% from last February, average price was up 4.3% and days-on-the- market (DOM) was down 3.3%.  Once again, the big leader in our area was the District, with a huge 21% increase in dollar volume of sales, an 8% increase in average price and a noticeable 20 day decrease in DOM.

The attraction for first-time home buyers and empty-nesters of living in “walkable” neighborhoods contributes to the success of the District. Added to that is the fact that  Washington has many neighborhoods of comfortable homes and condominiums on attractive tree-lined streets, near Metro stops and just minutes from the heart of downtown, which is unusual for most big cities in the US.

 *Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, DC; Montgomery County, Maryland; and Fairfax County, Arlington and Alexandria in Virginia.