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.
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 http://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
This week's Best New Listings includes a bright one-bedroom in Bloomingdale and a Med... read »
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
Just a month after setting a new high in March, the value of a house in DC skyrockete... read »
The National Capital Planning Commission will consider approval of the final master p... read »
A look around DC to see where home sellers are dropping their prices.... read »
Our guide for amateur landlords who don't really know what they're doing.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »
Brookfield Properties is moving forward with development plans for additional sites i... read »
The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... 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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro