Hey, what’s there to say about Washington, D.C., really? It’s this nation’s capital. It is also known as the District of Columbia and generally referred to as The District. Those living in the nation’s capital are known as Washingtonians. If you’re drawn to power, this is the place to be. And the realtors in Washington DC are the ones with the power to connect you to the best real estate deals. If you’re looking to become neighbors with the President, these folks right here are the ones to call. And if you’re on the other side of that notion, if you’re tired of all of this power thing and just want to move somewhere else, contact one of our real estate agents in Washington DC so they can get the best offer for your sendoff!
The Housing Market in Washington D.C.
Washington D.C.’s housing market is incredibly balanced regarding the inventory of houses available on the market and the current demand on the market. This affects the homes’ purchasing price because if there aren’t too many offers on each home, the chances of prices going above and beyond the asking price are low. With one of the best realtors in Washington DC on your side, you can ensure that, whether you’re looking to purchase or sell a house in the city, you pay the fair market value.
The median home value in Washington D.C. is currently at $686,000 after a 5.6% increase in the last year. Based on the current market trends in the US, housing prices in the capital are likely to continue to appreciate. However, that appreciation will be a steady one, making the city a good option for long-term investors. What surprised many realtors in Washington DC was the amount of sales that finalized during March of 2021. While the city’s real estate market reached historical prices, the volume of sales exceeded all expectations.
Seeing as around 60% of the people living in the city are renters, real estate agents in Washington DC gave us some numbers. The median rent for a one-bedroom apartment in Washington D.C. is $1,570, while for a two-bedroom apartment, the occupant would have to pay $1,590. Rent prices dropped in the whole area, and even Arlington is dealing with the same situation. From this time last year, both places dealt with a 13.3% drop in rent prices.
Job Market in Washington D.C.
Yes, it’s not the cheapest city in America, and it shouldn’t be, right? What real estate agents in Washington DC will counter this argument with is that it’s a city with many jobs. Especially if you’re young and just starting, Washington DC is an excellent choice for professional growth. The US Government alone employs more than 140,000 people, plus the many more prominent companies that, naturally, want to be close to the decision making so they set their feet down there. But don’t take our word for it; talk to one of the real estate agents in Washington DC. They are the best ones to go over all your doubts and tell you everything you need to know regarding DC’s real estate market!
Living in Washington D.C.
But there’s much more to DC, really. For instance, realtors in Washington DC will tell you about the many museums the city offers. In the national mall alone, you have 13(!) free(!!) top-notch museums you can take your kids to get some knowledge. Not to mention the many more cultural activities in town. From professional major league teams – they’re not the best, but they have their value…- to random street festivals. While the cost of living in Washington D.C. 39% higher than the national average, it is somewhat to be expected considering that the District of Columbia is the nation’s capital. An important comparison would be with New York, where the cost of living is 39% higher than in D.C. All these technicalities are best to be discussed in detail with real estate agents in Washington DC. You can find their information around the middle of this page, and they can give you all the required information for a simpler transition.
Most frequently asked questions regarding Washington DC
What is the median income in Washington DC?
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