Eckington By The Numbers || Weekend 1.13.2024

Good morning, Eckington!

New year, same us, same data! We hope you all had a wonderful New Year.

Eckington's data this week and across DC is interesting. The number of active listings dropped from 25 to 22, and there have been a total of 5 closings in the last 30 days. The average days on the market pushed up to 41 from 25. However, we are seeing some movement in early 2024. 

The rates continue to drop from a peak high back on October 18th of 8.01%. Have a look at the chart below. Click on it to see more. The dropping rates have certainly been motivating more buyers. We had two condo listings that were sitting through the holidays, and in the first week of the new year, both suddenly had 5 plus showing requests. Both are now under contract. Additionally, in other parts of the DC area market, houses are seeing multiple bids. If you are considering selling this spring, it might be a very good time for you. Stock is still low, and combined with dropping rates, I believe you will do very well. Next week, Alex and I will release a longer video on what to expect in the 2024 market, and we will send it here too. So more to come there.