Dear Friends,
It’s hard to believe that 2024 will soon be a distant memory. As we head into 2025, we in the real estate industry are looking ahead to what the market may bring in the new year.
Interest rates have been a bit more volatile post-election. Many analysts are predicting that they will dip down again soon. With this drop, Axios is predicting (read here) increased home sales and inventory. While sales have been slower for the past couple of years, due to buyers sitting on the sidelines and a decline in inventory, the overall drop in interest rates plus people coming to the realization that moves are needed, should equal higher prices due to increased supply, competition, and demand.
The median home sale price in the D.C. region is expected to increase by 4.7% in 2025 … and with analysts predicting that inventory will still be below pre-COVID levels, it could go higher if buyer demand causes increased escalations, as we saw in 2020 and 2021. Moreover, the number of home sales is expected to spike up by 7.9% percent!
I’ve had a handful of clients — both old and new — who have reached out from Potomac to Capitol Hill to Kalorama to Alexandria to start planning the sale of their home before the market is flooded.
At Daniel Brewer Advisory Partners, we stand ready to be your advisor in all things real estate and home related. If you even have an inkling of curiosity of selling or buying, we’re here to help you navigate that decision should it be the appropriate time for you. If you’re just wondering how much your home is worth, we can do a home value analysis and set you up with a market watch for your neighborhood.
Also, if you’re planning a renovation or addition, I’m happy to go through the plans with you and give you some idea of how it will increase the value of your home. I would use my listing agent expertise to consider if the change or addition is something others will want. I enjoy even helping to pick a paint color, appliances, light fixtures, you name it …. I LOVE this part of my job!
Happy Holidays to you and yours!
– Daniel
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