DC Real Estate

Mortgage Rates Sink to Another Record Low

For the third time in the past four weeks, the 30-year fixed mortgage rate sank to a record low. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average fell to a historic low of 3.03 percent with an average 0.8 point. (Points are fees paid to a lender equal to 1 [...]

2020-07-10T15:18:45+00:00July 10th, 2020|

The 10 DC Neighborhoods Where Homes are Selling the Fastest

In addition to contract ratio, the median days on market metric helps provide a sense of not only where homes are selling the fastest, but also a city's most competitive housing markets. Today, UrbanTurf parses the median days on market data for advertised subdivisions around DC to see where homes have been selling the quickest in 2020. And [...]

2020-07-02T17:56:22+00:00July 2nd, 2020|

Freddie Mac: Mortgage Rates Will Likely Go Below 3%

Freddie Mac announced two things on Thursday that many in the mortgage industry never expected to hear: 1) Long-term rates dropped to 3.07%, their lowest level on record and 2) There is the likelihood that rates could go below 3% later this year. “Mortgage rates continue to slowly drift downward with a distinct possibility that [...]

2020-07-02T16:52:54+00:00July 2nd, 2020|

DC Area Property Showings Continue to Rebound

The DC area is in the second phase of "reopening" as stay-at-home restrictions are lifted, but the real estate market has been defiantly high-demand throughout the public health crisis even when sales dipped. Today, UrbanTurf is taking another look at trends for showings of homes on the market in the region. The latest data from ShowingTime indicates that, for the week [...]

2020-06-24T16:35:11+00:00June 24th, 2020|

The Crazy DC Housing Market in May, by the Numbers

The May housing market in the DC region was one of the wilder on record due to the roller coaster effect that COVID-19 is having on the market. The market is now characterized by record home prices, a dearth of homes for sale and buyer demand that is approaching pre-pandemic levels. Below, UrbanTurf plucked out [...]

2020-06-19T16:53:24+00:00June 19th, 2020|

DC Home Prices Shatter Record in May as Housing Market Rebounds

DC home prices shattered their all-time record in May as the regional housing market continued its roller coaster ride as a result of the effects of COVID-19. The median home price in DC came in at $660,000, a whopping $25,000 higher than the previous record for the city of $635,000 set last December. The median price [...]

2020-06-11T20:05:14+00:00June 11th, 2020|

1603 Isherwood Building is a Good Fit for D.C.’s Kingman Park

Isherwood Street between 16th and 17th streets is a mix of old and new in Northeast Washington’s Kingman Park neighborhood. A number of buildings on both sides of the street are two-story, four-unit brick structures painted in shades of pale green, light gray, charcoal, yellow and salmon. They have a centered front door, with two [...]

2020-06-05T18:08:21+00:00June 5th, 2020|

From Homes to Performance Spaces, How a Zoning Change Could Transform DC Alleys

A year after the Office of Planning (OP) proposed amendments that could add more activity along DC's alleys, the Zoning Commission has scheduled a public hearing. The zoning amendments would enable more by-right alley dwellings by turning more alley-facing tax lots, which don't permit development, into record lots. Alley tax lots larger than 450 square feet created [...]

2020-06-05T01:47:52+00:00June 5th, 2020|

Mortgage Rates Fall to New Record Low

New week, new record. Today, Freddie Mac reported 3.15 percent with an average 0.8 point as the average for a 30-year mortgage, a new record low for long-term rates. The previous record was 3.23 percent, set at the end of April. "The 30-year fixed-rate mortgage has again hit the lowest level in our survey’s nearly 50-year [...]

2020-05-28T22:29:38+00:00May 28th, 2020|