Eckington By The Numbers || Weekend 08.05.23

In terms of recent activity in Eckington, the number of active listings moved from 33 to 34, while a total of 7 closings occurred within the last 30 days. There are a few really great listings on the market this weekend. In particular, an end unit located at 181 V Street NE caught my attention. See it here: 181 V Street NE Listing

In the dynamic world of real estate, higher interest rates can have a profound impact on home values. When interest rates rise, it directly affects the affordability of homes for potential buyers. With increased borrowing costs, homebuyers may find themselves constrained by reduced purchasing power, leading to a decline in demand for homes. Consequently, as demand wanes, home prices tend to soften, slowing down the appreciation rates and potentially leading to a more balanced market. Additionally, higher interest rates can discourage homeowners from refinancing their mortgages, reducing the supply of available homes for sale. As real estate markets are intricately linked to interest rates, it becomes crucial for homeowners and investors to stay informed and adapt their strategies to navigate these fluctuations successfully.


All of the above being said, when the jobs report showed some slowing growth (meaning inflation control efforts are working), interest rates fell by 0.17%, which is not a small increment. As of Friday, August 4th, 2023, the current average interest rate for a 30-year fixed mortgage is 7.03 

*We source this data from Mortgage News Daily. 

Eckington By The Numbers || Weekend 07.29.23


If you're thinking of listing your home this fall, now is the time to start working on it. Selling a home involves critical steps that require ample time for proper execution, and starting early will undoubtedly give you a competitive edge and much less stress. First and foremost, take the time to declutter and organize your space, allowing potential buyers to envision themselves in the property. Undertaking any necessary repairs and renovations is another essential step, as it ensures your home presents its best version to prospective buyers. Moreover, landscaping and enhancing curb appeal demand careful attention, as lush gardens and well-maintained exteriors can significantly impact a buyer's first impression. Lastly, collaborating with a trusted real estate agent early on will set you on the right path, as they can guide you through the process and help determine an optimal pricing strategy. Embrace the warmth of the season, and let this summer be your catalyst for a successful fall property listing.

Eckington By The Numbers || Weekend 07.08.23

Happy Monday Eckington folks,

Please see below for the summary real estate numbers, the link to download the printable PDF of the "Eckington Sales Tracker & Open House Guide", and a link to see all active listings currently in our neighborhood.

We have now entered the peak of summer, commonly referred to as the "dog days," and its impact is evident in the real estate market. As an illustration, there were no open houses held in Eckington over the past weekend, as individuals are currently making their way to local beaches or embarking on long-awaited vacations. In terms of recent activity in Eckington, the number of active listings has remained steady at 31, while a total of 11 closings occurred within the last 30 days.

In other news, the economy continues to thrive, resulting in escalating interest rates until a slowing point is reached, which will subsequently lead to a decline in inflation. As of Monday, July 10, 2023, the current average interest rate for a 30-year fixed mortgage is 7.14% *We source this data from Mortgage News Daily.

Thank you,

John