LOL. The usual argument here is that you can’t include values from the suburbs, because those are always more subject to fluctuations. |
This is also a flawed theory, because in the DMV “the suburbs” is a very wide range of neighborhoods - some that are more susceptible to fluctuations and some that have historically had very little fluctuation at all. |
I think prices have gotten out of control.
Someone mentioned in a thread we'll know if it's a market downturn/crash when homes are listed/sold below their last purchase price. And I'm starting to see that in my zip code of 20011. Doesn't look good for those who need to sell, but folks were overbidding. etc. and will now have to pay the price. Are you seeing homes in your area with the same credentials? https://www.redfin.com/DC...lsrc=aw.ds https://www.redfin.com/DC...Z2EALw_wcB https://www.redfin.com/DC...e/10051763 |
That’s because you have/had people buying 25mil plus homes. So that data point is useless. |
Do you not know what a median is? |
Thanks for this. I get so annoyed with these wishful downturn folks. I'm in my 4th decade living here and can remember exactly twice when people lost out on homeownership. I'm sorry that DC doesn't budge much, neither does NY. Some places - there's not going to be that downturn, some wish for as entree into the market. |
In my zip code (20850) homes are not flying as fast as they were last year, but listings up to 1.5 M are still moving. The price drops are not dramatic. Prices definitely seem to have plateaued though, which isn’t necessarily a bad thing given that they increased so rapidly post-Covid. |
This is what I'm seeing in 20817. Definitely more inventory, and more sitting though. Those invariably need price cuts. |