Idk because anything I like there, goes fast and for higher than I would pay. |
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right? |
The parts of DC where homes are still selling tend to have larger size homes, such as closer in Capitol Hill (larger, wider rowhouses) or parts of NW that have more unattached homes vs. farther out Hill East, etc. For instance, per Redfin Market analysis, Brookland homes are still selling and are selling faster than a year ago. Although Brookland has higher crime vs other parts of DC, it also has larger SFHs which are more desirable with telework. WFH is driving people to want more space. |
Crime is likely only an impact in certain neighborhoods. DC's market is doing similarly to last year. But DC also has lots of horrible condos which nobody wants. And that market is saturated and doing the worst. SFHs are doing better but still lag the suburbs with inventory in DC increasing and in the suburbs decreasing YoY. |
No, only terminally online helicopter parents think crime is anything to worry about. The real reason is because DC has way more condos for sale which take far longer to sell than detached houses. |
Some parts of DC have really lost their appeal post pandemic. Vagrants walking around muttering and yelling at people. Some streets/commercial areas feel deserted. Some areas are dirty.
Prime DC neighborhoods will always keep their value. But areas that were transitional/marginal and slipped back, maybe not. |
It's not just condos, it's rowhouses that are sitting if you are paying attention. I've watched real estate in my neck of Hill East and have never seen rowhouses sit for so long. Currently, my specific neighborhood has more houses than I've ever seen simultaneously for sale in the 15 years I've lived there and have watched every real estate listing, and they are sitting for weeks and sometimes months. |
DP to add, live in a higher crime area and yes it impacted us moving. I guess people are helicopter parents if they don't like listening to gunshots while sitting in their living room or have people murdered within a block of their house? Hill East has seen a really horrible slate of drive by shootings this year with people literally having to drop to the ground with bullets flying. |
Condos are a disaster. Yes. But the detached home market is also far looser than the suburbs. |
Yes, we're not at a value inversion yet between the close-in suburbs and DC, but these rowhouses will sit until a significant inversion happens. The value proposition is just not there at all. Why risk the crime when you can still buy a TH in ARL or ALX for the same or less and WFH takes away the commute incentive? So the TH market in close-in NOVA is still very hot with bidding wars, and these rowhouses sit. |
Thank you so much for your bold action on crime, Charles Allen! |
Yes. But there are people who own in dc and still don’t want to admit it yet. |
Not really -- they were wrong from about 2007 to 2019, when prices were basically flat. So wrong for 12 years, then right for 5. I guess you could go down slightly on the 12 years, because if you bought a couple years before, you'd be doing well also. But really, real estate barely beats inflation in the past 20 years in the DMV. So you'd really be better off NOT following their advice more than you would be following it. At the end of the day, buy or sell when it's the right time for you, but don't follow advice from people who stand to gain from doing as many sales transactions as possible. |
Of course. Once you cross Georgia Ave and enter into the dilapidated ghetto that is Takoma Park, your life is basically forfeit. |
THANK YOU now o don’t have to compose my own post. |