Eckington By The Numbers || Weekend 10.21.23

Here's something worth considering: If you're a buyer, would you rather be in our typical DC market, where you find yourself competing with five other people, having to pay an extra $50,000 just to secure the winning bid, and often forgoing inspections and other protective contingencies? Or would you prefer to be in this market, where you can purchase a home at the asking price and take your time to conduct due diligence without feeling rushed? It's important to note that anyone obtaining a mortgage at the present time can later refinance when interest rates drop. This is something you can control. On the other hand, once you've purchased your home, you can't go back and renegotiate the price. Smart buyers are taking advantage of the current market conditions, understanding that it will benefit them in the long run.

Eckington By The Numbers || Weekend 10.15.23

In terms of recent activity in Eckington, the number of active listings has increased from 34 to 43, and there have been a total of 2 closings in the last 30 days. These numbers are indicative of what we are observing in DC – more homes on the market with a slightly slower uptake.

A friendly reminder that Eckington Day 2023 is scheduled for October 21st, from 11:00 AM to 3:00 PM at Alethia Tanner Park. We'll be present with a table and would love to engage in real estate discussions with anyone interested. We'll also have printouts of our weekly tracker available.

Eckington By The Numbers || Weekend 09.23.23

I'm sure we are all thankful to see Ophelia leave us!

In terms of recent activity in Eckington, the number of active listings has increased from 35 to 36, and there have been a total of 6 closings in the last 30 days. The fall market has been somewhat sluggish, primarily due to the ongoing rise in interest rates. Notably, 5 homes in Eckington have been withdrawn from the market after remaining unsold for 30 days.

Overall, it appears that we need to recalibrate our expectations regarding the speed at which homes sell. While we're accustomed to receiving bids within the first weekend in DC, the slightly higher interest rates are having a dampening effect on the pace of transactions. When listing properties, it might be wise to adopt a mindset geared towards a 30, 60, or even 90-day sales period. Homes can still find buyers if they are presented well, priced appropriately, and strategically positioned in the market. Patience is key in allowing the right buyers to come forward.


Please come see us at 1940 2nd Street NE today from 1-3pm for an Open House! Here is a video tour of that home: https://www.youtube.com/watch?v=er4vlQBoOrU


 As of Friday, September 22, 2023, the current average interest rate for a 30-year fixed mortgage is 7.39 *We source this data from Mortgage News Daily. 

Eckington By The Numbers || Weekend 09.03.23

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.

In terms of recent activity in Eckington, the number of active listings moved from 32 to 35, while a total of 7 closings occurred within the last 30 days. With the fall market just a few weeks away, we anticipate a surge in activity during that period.

After Labor Day, the real estate scene tends to get a little busier as we ease into the autumn season. The weather becomes more pleasant, kids are back in school, and the days remain reasonably long. If you've been on the lookout for your dream home, now's the time to keep an eye out. If you're thinking about selling, it might be a good idea to start planning your next move. The fall season offers some promising prospects in the real estate market, so stay tuned for opportunities, whether you're buying or selling.