Is Washington D.C. in a Buyer’s or Seller’s Market?

Maryland Real Estate Podcast with Kathi Kershaw

I’m often asked about the state of our real estate market. Today, I wanted to answer that question and discuss where the market is headed.

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One of the questions I often get asked when people find out that I’m a real estate professional is, “How’s the market?”

It seems like an easy enough question to answer, but there are several questions I have to ask before I can even begin to do that. Some of these questions include:

• Where’s your home located?
• Is it close to public transportation?
• What is the home’s condition?
• When did you buy the home?

Once I have the answers to these questions, I can give you my answer. In a general sense, though, we’ve been in an “up” market for a little over five years, and we’re due for a little flattening out. This isn’t bad news; it just means the market is stabilizing toward normalcy.

What market you’re in depends on your location.

Another question I often get asked is, “Are we in a buyer’s market or a seller’s market?” Again, it depends primarily on location. If you live close to the D.C. metropolitan area, I would say you’re in a seller’s market. If you live 15 or more miles outside of this area, you’re in a buyer’s market.

So, what does this mean to you as a buyer or seller? Buyers want the best house for the best price, so if you want your home sold quickly, make it the prettiest house for the best price.

If you’re thinking about buying or selling a home or have any other real estate questions, give me a call or send me an email. I would be glad to help you in any way I can!