Monday, April 29, 2013
D.C. Condo Market: Great Time to Buy & Sell!
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Real estate statistics in our marketplace confirm what we’ve suspected – condo sales are hot! There is a lack of supply and high demand for condominiums throughout the metro D.C., Maryland and Virginia areas.
Stats show that condo sales in the region are up by 10 percent in 2012 over 2011 figures. And 10 percent is significant because it coincidentally matches the rate of real estate appreciation year over year.
Condos are selling quickly, too. Condo units sold in an average of 59 days in 2012, down from 76 days in 2011. Often, they sell even quicker. We sold our last four condos in 2013 in an average of just 7.5 days. That should give you a sense of the quick pace in the metro’s condominium market.
We at Eng Garcia Properties are obsessed with this type of invaluable data that helps us translate what the market is doing into outstanding marketing strategies that help when you are buying or selling real estate.
Are you ready to take advantage of D.C.’s red-hot condo market? Give us a call or drop me a line to learn more.
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Since condo units are more affordable than houses and bigger apartments, it's not surprising to know that its sales are rising. Most of those looking for real estate properties are looking forward to own a condo, especially when they're beginners in acquiring properties. They can easily manage the payment for the condo and they can easily find a location that can fit their work and daily routine.
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While you are going to buy or sell a house, your prime step should be choosing a good realtor.Great information thanks for your sharing.
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It's a great time to purchase properties nowadays since the interest rates are getting lower, making it easier to pay for them on a mortgage basis. Other citizens are deciding to sell their old place to build new and bigger houses. I'm sure that sellers can look for trusted realtors who can help sell their property at a good profit to help cover other important expenses. :)
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