DC Real Estate

Amazon Drops New York City Headquarters But Says It Will ‘Proceed As Planned’ in Crystal City

Tech giant Amazon says it will no longer locate its new corporate offices in New York’s Long Island City, according to a statement obtained by the New York Times on Thursday. Still, the Seattle-based company notes that it will “proceed as planned in Northern Virginia,” where it has offered to create 25,000 new jobs—through the next decade—in and around Crystal [...]

2019-02-16T00:51:40+00:00February 16th, 2019|

DC-Area Home Sellers Saw Average Profits of $60,000 in 2018

While the DC area housing market continues to make consistently strong showings, this dynamic obscures some more interesting facts at play. Since 2000, the average homeownership tenure in the DC area has gone up virtually every year, according to ATTOM Data Solutions's 2018 US Home Sales Report, from just over one year in the first [...]

2019-02-01T15:20:12+00:00February 1st, 2019|

$892 Billion: The Reported Worth of DC Area Residential Real Estate

The national housing market has gained a tremendous amount of value in recent years, and a new report is trying to quantify the increase. The Zillow report released last week analyzes the aggregate value of residential real estate in each state and some of the largest metro areas. For the DC area, the housing market is worth [...]

2019-01-12T00:51:28+00:00January 12th, 2019|

Mortgage Rates Drop to 9-Month Lows

This week, long-term mortgage rates dropped to their lowest level in nine months, which appears to have spurred home buying activity. Freddie Mac reported 4.45 percent with an average 0.5 point as the average for a 30-year mortgage on Thursday, down six basis points from last week. “Mortgage rates fell to the lowest level in [...]

2019-01-12T00:49:11+00:00January 12th, 2019|

Amazon’s HQ2 Caused a 743% Increase in Online Home Searches Around DC

Online search activity from other tech hubs—such as Silicon Valley and Seattle—for houses near Crystal City spiked 743 percent a week before Amazon confirmed that half of HQ2 would come to Northern Virginia, according to a report released by Trulia on Tuesday. Despite the heightened interest in the area, and the fact that real-estate agents are [...]

2018-12-19T15:19:26+00:00December 19th, 2018|

A 633% Increase: Home Sales Skyrocket in Northern Virginia Following Amazon Announcement

The Amazon Effect in the Northern Virginia real estate market appears to be quite real. Prior to the announcement that Amazon would split its second headquarters between Queens and Northern Virginia, UrbanTurf observed that rumors of the online giant's arrival hadn't impacted the housing market in places like Crystal City (one-third of the National Landing neighborhood where [...]

2018-12-19T15:11:47+00:00December 19th, 2018|

D.C. To Pursue Changes To Long-Term Development Plan in 2019

Cranes above D.C. buildings | Andrei Medvedev/Shutterstock Urban planning nerds who are anxious to see what local lawmakers are going to do to the District’s Comprehensive Plan for development and growth will have to wait a little longer. Earlier this week, D.C. Council Council Chairman Phil Mendelson told reporters at a media briefing that his committee of the [...]

2018-12-19T15:07:17+00:00December 19th, 2018|

Mortgage rates hold steady, taking a pause after the Thanksgiving holiday

Mortgage rates leveled off this week, pausing amid stock market fluctuations, global trade concerns and comments by Federal Reserve Board Chair Jerome H. Powell. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average stayed the same, at 4.81 percent, with an average 0.5 point. (Points are fees paid to a lender [...]

2018-11-30T20:30:59+00:00November 30th, 2018|

D.C. Council gives final approval to Airbnb regulations

D.C. residents who use Airbnb or similar booking services to rent out their homes will likely have to abide by new regulations starting next October, when they are set to go into effect. The policies represent the first time the city has charted comprehensive laws for short-term rental units—an effort that has sparked a fierce debate spanning [...]

2018-11-21T21:07:54+00:00November 21st, 2018|