Your Latest DMV Market Update
Here’s a look at how our DMV market performed this past November.
Today I want to discuss the state of our DMV market by looking at some stats from November, the most recent month for which we have complete data. In particular, I’m focusing on the differences in our single-family market when comparing November 2019 to November 2020. We all know that the market has been absolutely crazy over the past few months; thanks to record-low interest rates, there are many more active buyers than sellers, so inventory has remained low. Let’s take a look at the different ZIP codes in the Washington, D.C. area:
- In 20016 and 20001, both inventory and days on market are down
- In 20015, inventory and days on market are up
- In 20008 and 20003, inventory is stable but days on market is up
- In 20007, 20037, 20010, and 20002, inventory is down but days on market is up
- In 20011, inventory is down but days on market is stable
- In 20005 and 20009, inventory is stable and days on market is up
Now, let’s check the latest trends for the towns of Bethesda and Chevy Chase in Maryland; for Bethesda, inventory is down but days on market is up, while conversely, Chevy Chase’s inventory is up but its days on market is down. Finally, we move on to the cities of Arlington and Alexandria in Virginia; Both these area's inventory is down and days on market are up. As usual, if you have questions or are thinking about buying or selling soon, please give me a call or send an email. I’d love to be your real estate resource.