It's officially summertime in the DMV!! Even though the official calendar date is next week, the summer vibe is upon us. Most schools have wrapped up for the year and the heat is in full swing. The real estate market is most definitely inline with the weather, as it remains red hot. Prices have continued to appreciate significantly year over year. The lack of significant inventory is the primary driver in the continuing trend. We are ready to help you in all aspects of real estate so don't hesitate to contact us and put the power of Sullivan Brownell Partners and WFP to work for you!
-State of the Market-
In this month's snapshot, both the median and average sales prices remained flat over the April 2024 numbers, but both are still up 4.5% and 8% respectively over April 2023. Notably, the number of new listings was slightly higher this April versus last April. The temporary uptick in inventory was not enough to satisfy current demand but was reflected in the month over month sales price numbers, which were flat for the first time this year. If you are considering selling, and would like a detailed report for your home or neighborhood, or simply interested in your current value, please contact us.
Have questions about the state of local real estate and how it may impact you? Whether thinking of buying, selling or investing (or just want to talk!) please connect with us, just click the button.
Sullivan Brownell Partners is proud to announce that we've recorded the highest Price Per Square Foot sale in Alcova Heights, Arlington VA history. With our clients cooperation and support, we were able to sell this charming Bungalow for over $1,078 per square foot for a sales price of $976,000.
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