If you’re buying or selling DC real estate, you’ll want to be able to understand how DC home values are calculated.
Each market is different and values can vary widely by neighborhood, street and even portions of a block. Buying and selling trends affect home types such as condos, townhouses and single family homes as well as price points. Values are always changing and are subject to influences such as supply and demand, interest rates, economy, demographic changes, etc.
Once you understand the impact national factors such as interest rates, economy and business growth are making on the market, turn your focus to all things Local.
You’ll want to examine DC inventory, absorption rates, pricing trends, median and average data sets across home types, sales to list price ratios, price per square foot and other applicable measures. Then drill down into the data for the specific home type and location you’re targeting.