Rising Activity Amid Market Uncertainty

The Washington DC Metro area (including Northern Virginia and Montgomery County) has seen a 5% increase in sold volume, an almost 7% increase in average sales price, and a 9% decrease in days on market (down from 23 days to 21 days) year-over-year through July. Interestingly, total active listings are up 20% month-over-month from July last year, indicating that more sellers are entering the market and that properties are not being absorbed by buyers as quickly as before.

That being said, our area still has low unemployment (DC Metro area at 3% through June 2024) and jobs are the fuel of the real estate market. We expect (hope?) that, with the seasonal fall bump and anticipated lowering interest rates, we will see a vibrant fall market. As we said earlier, the one caveat is that the uncertainty created by presidential elections could chill the level of activity.

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Wydler Brothers have been selling residential real estate for over 20 years in the DC metro area. Along the way, they’ve achieved numerous awards and recognitions, including being recognized as “The Most Innovative Real Estate Agent in America” (Inman, 2014), written several articles for The Washington Post, authored a book, “Inside the Sell”, co-founded a real estate tech company which sold to Move, Inc. in 2013, and built Wydler Brothers into a highly respected boutique brokerage with 70 agents and employees which they sold to Compass in 2019. Currently, Wydler Brothers is among the top 3 teams in the DMV and was the #1 Compass Team in 2022.

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Rising Activity Amid Market Uncertainty