Not since 2005 has the Washington D.C. housing inventory been so sparse. According to a report by Real Estate Business Intelligence, 22 percent fewer homes were for sale in December 2011 than during the same month in 2010. Of that available inventory, only one in 20 of those homes is a foreclosure, also a steep decline from the 16 percent of the market in foreclosure in December 2010. However, short sales did not decline and held steady at 23 percent of the sales in 2011 while the median sales price fell 3.6 percent in December 2011. To brighten matters, though, analysts are forecasting “upward pressure” on housing prices in the area in 2012.
And that’s not the only thing that is making D.C. attractive to home-buyers these days. According to a report by Property Shark, the average home size in the area is the largest in the country, logging in at 2,237 square feet. Atlanta, Georgia placed second, with an average home size of 2,074 square feet. So when you buy in D.C., you get a lot of home for your money in addition to the potential for appreciation – something not widely available in today’s market.
Would you invest in D.C. properties? Are you presently?
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