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Reply to "Is crime affect DC's real estate market?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I got this from our realtor who we used many years ago: https://vimeo.com/938357764 Notice he says MoCo and PG are a seller's market with only 1.5 months of inventory, and for DC it's different -- only areas like AU Park and Cleveland Park are similar, and the rest is a buyer's market with 5 months of inventory. Could the crime situation in DC be affecting this? Just seems odd that these areas are just a few miles apart, but so much difference in the market dynamics. [/quote] Yes. [/quote] DP, well, yes and no. I think there's also a post-pandemic impact where people are still looking for more space as they settle into more hybrid work schedules that didn't used to exist prior to the pandemic. People want office space, if two spouses are working from home, it's tough with two people on meetings at the same time. So larger homes, SFHs, which are more abundant in AU Park, Cleveland park, are staying appealing, smaller rowhomes are less appealing now. But also, yes, crime has been exhausting. We've dealt with both higher crime in our neck of the woods, as well as feeling squeezed due to lacking office space. On Capitol Hill, the rowhomes closest to the Capitol building are still selling like hotcakes. Once you get past 10-12 blocks East of the Capitol, rowhouses are sitting. Crime increases the farther out you go (around 17th and Independence SE particularly has had a horrible spate of shootings in the past 6 months or so).[/quote]
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