Washington DC Real Estate Prices, Sales Up in February

Washington DC Real EstateFebruary 2012 average home sales statistics show the close-in Metro area is gaining momentum with the average sales statistics up in suburban Northern Virginia and Montgomery County, in comparison to February of 2011. The dollar volume of sales was up 9%, along with the average price of a home up 4.25%, and with days on the market down by more than three days, compared to last February. The District of Columbia continues to lead the local jurisdictions in the real estate market with significant gains.

“In the District, the dollar volume of sales is up an amazing 21%, prices are up 8%, and the days on the market is down 20 days, which is big,” says Donna Evers, Evers & Co. Real Estate President and Broker. “Washington, D.C. continues to be the leader in this market and I think it’s going to continue this way throughout the spring.”

These improving real estate figures in the region along with low housing inventory should prompt people, who have been hesitant to put their homes on the market, to sell. Evers believes now is definitely the time to get back in the market, with properties located in the District, and in the “close-in” areas of Northern Virginia and Montgomery County, expected to do well during the traditionally busy spring months ahead.

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