AgentMarkets & Economy

Mid-Atlantic region boasting strong and stable real estate market conditions, says TTR Sotheby’s

D.C. metro entered 2016 on a high note
  • Median home prices in Virginia remained fairly stable in 2015 on an annual basis.
  • Total sold dollar volume increased 7.06 percent in 2015 to $5.28 billion in D.C. metro.
  • Bethesda and Potomac both saw increases in number of units sold.

2015 was a solid year for the real estate market in Washington D.C. and the surrounding counties. The D.C. region continues to reflect strong real estate market conditions with increasing demand and home prices, according to the year-end report recently released by TTR Sotheby's International. With a strong unemployment rate lower than the rest of the country and the forecast of more jobs being added in the coming year, expectations are high for Washington D.C., Fairfax County, Montgomery County and the rest of the Mid-Atlantic Region. Washington, D.C. In 2015, the total sold dollar volume increased 7.06 percent annually to $5.28 billion. The most units in the D.C. metro sold in Chevy Chase. Representing an 8 percent increase over last year, 185 units sold in the neighborhood. While the average sold price increased 3 percent to $1,072,229, the average days on market increased 44 percent to 26 days. [graphiq id="fUe38Xq7GwR" title="Chevy Chase-DC Washington, DC Profile" wi...