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a look back

Past Market Trends

As a homeowner, it is helpful to be aware of how the real estate market is performing over time. The Dupont Circle market is always changing. Here you can review past market trends and compare them with how the market is currently trending.

May

Spring 2022

Real Estate Market Report

The spring market report for Dupont Circle covers the trends for active properties as of the start of May, along with sales data from the tail end of March through April. In that sense, it doesn’t reflect the entire spring season on whole, but it does offer a perspective on the current climate and what might be coming down the pike.

The Fed raised interest rates by a half-point at the beginning of May. It’s the second uptick already this year, and corresponding mortgage hikes could cool the housing market, not only nationwide but here in Washington as well.

The rate increases haven’t yet had a profound effect on the local market, although that could certainly change in the coming months. The average list price for current active properties is $2,447,767, somewhat higher than the winter period. That number is overly influenced, however, by a pricy $3,750,000 listing on 19th Street.

The average sales price for the 11 homes sold from late March through April, stands at $1,945,364 with 50 days on market. This aligns almost exactly with the first quarter sales average of $1,928,545, while the DOM has increased by a noticeable margin. In other words, the dollar figures remain robust, but buyers may be taking longer to decide.

On a personal note, my listing at 1830 S Street is currently pending and due to close shortly. Offered at $1,695,000, the four-story Victorian in the heart of Dupont has been extensively renovated. The home was on market for 26 days before receiving an accepted offer, a significantly faster turnaround then the current average DOM. Strategic marketing helps!

A new report will come out in June, with a fuller picture of the spring months on whole. In the interim, do not hesitate to reach out, for market advice or just to say hello!

June

Spring 2022

Real Estate Market Report

The spring market report for Dupont Circle covers the trends for active properties as of the start of May, along with sales data from the tail end of March through April. In that sense, it doesn’t reflect the entire spring season on whole, but it does offer a perspective on the current climate and what might be coming down the pike.

The Fed raised interest rates by a half-point at the beginning of May. It’s the second uptick already this year, and corresponding mortgage hikes could cool the housing market, not only nationwide but here in Washington as well.

The rate increases haven’t yet had a profound effect on the local market, although that could certainly change in the coming months. The average list price for current active properties is $2,447,767, somewhat higher than the winter period. That number is overly influenced, however, by a pricy $3,750,000 listing on 19th Street.

The average sales price for the 11 homes sold from late March through April, stands at $1,945,364 with 50 days on market. This aligns almost exactly with the first quarter sales average of $1,928,545, while the DOM has increased by a noticeable margin. In other words, the dollar figures remain robust, but buyers may be taking longer to decide.

On a personal note, my listing at 1830 S Street is currently pending and due to close shortly. Offered at $1,695,000, the four-story Victorian in the heart of Dupont has been extensively renovated. The home was on market for 26 days before receiving an accepted offer, a significantly faster turnaround then the current average DOM. Strategic marketing helps!

A new report will come out in June, with a fuller picture of the spring months on whole. In the interim, do not hesitate to reach out, for market advice or just to say hello!