What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
DC Home Sellers See 30% Average Price Gain in Third Quarter
Further evidence came out earlier this week that the third quarter of 2015 was a pretty good time to sell your home in DC.
RealtyTrac’s Home Sales Report showed that homeowners in DC who sold in the third quarter realized an average price gain of $130,593 from the purchase price of their property. That works out to an average of a 30 percent gain from the purchase price. The report showed that DC home sellers in the third quarter had, on average, owned their homes for just over six years.
story continues below
loading...story continues above
Nationwide, homeowners who sold during the third quarter realized an average price gain of $40,658 (17 percent) from the purchase price of their property, the highest average gain since 2007. RealtyTrac indicates that these hefty price gains are not likely to continue.
“An increasing number of homeowners in 2015 have been cashing out the home equity they’ve gained during the housing recovery of the past three years,” said Daren Blomquist, vice president at RealtyTrac. “That may be a good decision because the data points to a plateauing market going forward. Home price appreciation is slowing, a trend that will continue if interest rates rise in the coming months as expected. Meanwhile the threat of rising interest rates combined with lowered premiums for buyers using FHA loans is spurring more demand.”
This article originally published at https://dc.urbanturf.com/articles/blog/dc_home_sellers_see_30_percent_average_price_gain_in_third_quarter/10558.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
A new hotel has been pitched for a development site in Mount Vernon Triangle that has... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro