The District of Columbia's real estate market shows indications of continued health according to area real estate agent John Seggerman of Seggerman Homes.
McLean, VA -- (ReleaseWire) -- 11/09/2015 --As compared to a year ago, local real estate conditions in the nation's capital during September showed impressive growth in terms of new listings, new pending sales, and successfully closed transactions according to a report issued by Real Estate Business Intelligence LLC.
Specifically, there have been increases across the board: almost one percent for new listings, nearly ten percent for new pending deals, and an almost fifteen percent bump in successfully closed sales.
"These indications speak to the long-term health of the city's real estate market, and are illustrated by the fact that these data points are all dramatically above the existing 5-year September averages," said local real estate expert John Seggerman of Seggerman Homes.
Additionally, although September's median prices dipped a modest 1.5% from August 2015 (from $520,000 to $512,000) median housing prices in Washington D.C. have increased more than ten percent from the numbers posted during September 2014. This indicates a healthy overall market.
The only data points indicating a slight slowdown is the average amount of time a property is on the market.
"Days on market" is a strong indicator of the vibrancy of real estate, and evidence indicates that the Washington DC market, despite a recent lull, is still experiencing brisk turnovers. Information supplied by Real Estate Business Intelligence LLC shows that properties are remaining on the market for only 38 days on average in 2015.
With overall D.C. sales prices up from this time last year and a reasonably-sized pool of available property, the District of Columbia's residential sales market is showing real signs of strength.
For more information, please visit http://www.seggermanhomes.com/