February 2017

February 2017 News

Feb
14
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Dear Friends and Neighbors –

It may be cold outside, but love, chocolate and flowers can warm the heart and hearth! With love in the air, we wanted to share some quotes about kindness, as we all know that a helping hand can lift a spirit. We hope you know we are always here to help – so please do not hesitate to reach out to us if we can be of any assistance on the real estate front.

Market Overview

January was a relatively active housing market. The market is tightening, with a median sales price of $390,000 at the highest January level of a decade, sales and pending sales at decade highs and declining inventory levels for the ninth consecutive month. Sales volume across the DC metro area was nearly $1.5 billion, up 19.5% from last January (which probably has something to do with the snowstorm last year).

While the overall DC market tells one story, you really have to dig deeper to understand the nuances of submarkets. For example, in McLean, the total sold dollar volume is down month-over-month by 12.3%, closed sales are down by almost 10%, and days on the market are up by 20%. That said, the average sold price is up by almost 9% at an average price of $1,447,953. In Chevy Chase, the data is similar: total sold dollar volume and closed sales are down by 22%, although the average sold price is relatively unchanged at $1,227,813. In spite of the decrease in sales, the lack of inventory signals that the DC Metro Area is still a strong seller’s market.

Wydler Brothers In The News

Great tips on how to take care of your home with the eyes of a buyer, brought to you by Hans and Steve Wydler.
Read more here
.

Keeping it REal:
Your Real Estate Questions Answered

What is your best quick tip(s) for clients who need to make their house look clean in a pinch for a last-minute showing?

The best advice is to DECLUTTER! Here are some quick ways to do this:

  • clean off tops of all tables
  • replace all towels/dishtowels with clean or new ones
  • clean up yard (and if seasonally appropriate, buy potted plants for front steps)
  • light a candle and put on nice, soft music

Cleaning your front door also makes a big difference! If you have the time to paint it, great. If not, be sure to clean the windows in the door (if applicable) and wipe it clean.

We would really love to hear from you if you have Real Estate questions/topics you’d like to see covered. Please send your questions here and we will be happy to answer these in our next newsletter.

In The News

How D.C. home prices stack up, neighborhood by neighborhoodWith 20 neighborhoods to choose from, see which areas of the city are the most and the least expensive for buying
Read more here.
Nestlé USA, the maker of Häagen-Dazs, Baby Ruth, Lean Cuisine and dozens of other mass brands, is moving its U.S. headquarters to Arlington’s Rosslyn area, bringing roughly 750 jobs to a part of Virginia struggling with widespread office vacancies.
Read more here.