The Wethman Group’s Real Estate News

July 29, 2016 by · Leave a Comment 

July  2016

Greetings!
July is hot, and so is the Wethman Group!  We are thrilled to be named to the list of Washingtonian’s Best Realtors in the DC area for the 2nd year in a row! Thanks to all of our past clients and friends who continue to support us and make us great. We’re honored!
June numbers show the market is as hot as the temperatures outside! Sales reached the highest point since 2009, and the median sales price for the DC area reached an all-time high. But the overall median sales price skews the story. Some pricier neighborhoods like Georgetown and Adams Morgan saw a fairly large decrease in median price last month compared with this time last year. This is a trend we have been seeing for the last several months. Buyers are active, the volume of sales closing are up, but there is still flexibility in price in some neighborhoods and on certain listings. A recent list of DC’s most and least expensive neighborhoods, is both interesting and somewhat shocking (Dupont in most affordable?), but this type of analysis isn’t comparing apples to apples (Dupont makes the list because of the number of smaller apartments and condos for sale). The Washington Post just named 3 new neighborhoods that are heating up.  Deciding where to buy can be a complex decision, especially with the market as interesting as this one. When you are weighing your options, reach out for a quick chat on what we are seeing in the neighborhoods you are considering.
One thing is certain, following Brexit, we are seeing near record low interest rates! If you are consideringrefinancing, reach out- we can recommend several great local lenders to work with to get the best rates. Another constant – inventory is low and continues to decline. Sellers, it is still a great time to get on the market! Let us walk you through a timeline that makes sense for you and our plan to maximize your return on investment.

Did you know we provide FREE educational seminars on home buying and selling to offices, alumni associations, community groups, and others. Attendees love these!  If you know a group who might benefit, let us know, we’d love to set something up.

Stay cool out there and beat the heat with this map of every pool in the district!
If we can help you or someone you know with your real estate needs, please do reach out. We always love to hear from you!
The Wethman Group

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