Why aren't DC homes selling???

[Anonymous]

Home sales are dropping in many markets. There is economic uncertainty due to the the upcoming change over to a dictatorship. People are likely be moving away from DC not to it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DC usually has a boom in sales activity the year after presidential elections. We will see if it is true in 2025.

Do you have any historical data to prove this assertion?

It's a little bit old..

https://public.tableau.com/views/prices_3/Dashboard1?:embed=y&:sid=&:redirect=auth&:loadOrderID=1&:display_count=y&:origin=viz_share_link

https://www.nar.realtor/blogs/economists-outlook/do-elections-affect-the-housing-market-in-washington-dc

[Anonymous]

Anonymous wrote:Home sales are dropping in many markets. There is economic uncertainty due to the the upcoming change over to a dictatorship. People are likely be moving away from DC not to it.

Demand is still solid outside of DC proper. DC, more specifically the neighborhoods that are eotp are experiencing low demand.

[Anonymous]

A lot of people who need a loan are out. Interest rates being what they are. So the market is oriented towards all-cash buyers.

Both prices and interest rates need to go down for the vast majority of potential buyers. So, it really is, do you have a property that is attractive to all-cash investment buyers? And if you don't, things are going to be slow until you hook an idiot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DC usually has a boom in sales activity the year after presidential elections. We will see if it is true in 2025.

Do you have any historical data to prove this assertion?

It's a little bit old..

https://public.tableau.com/views/prices_3/Dashboard1?:embed=y&:sid=&:redirect=auth&:loadOrderID=1&:display_count=y&:origin=viz_share_link

https://www.nar.realtor/blogs/economists-outlook/do-elections-affect-the-housing-market-in-washington-dc

Interesting! Have never seen this data before. Thanks.

[Anonymous]

Anonymous wrote:I wouldn't say U street is a neighborhood.

This isn't a matter of opinion. The official neighborhood is called the "Greater U Street Historic District."

[Anonymous]

Anonymous wrote:

Anonymous wrote:Home sales are dropping in many markets. There is economic uncertainty due to the the upcoming change over to a dictatorship. People are likely be moving away from DC not to it.

Demand is still solid outside of DC proper. DC, more specifically the neighborhoods that are eotp are experiencing low demand.

Demand is still more than solid in certain parts of DC, specifically Upper Northwest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Home sales are dropping in many markets. There is economic uncertainty due to the the upcoming change over to a dictatorship. People are likely be moving away from DC not to it.

Demand is still solid outside of DC proper. DC, more specifically the neighborhoods that are eotp are experiencing low demand.

Demand is still more than solid in certain parts of DC, specifically Upper Northwest.

That is basically what the poster said in the sentence you did not highlight.

[Anonymous]

DC has too much crime.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Home sales are dropping in many markets. There is economic uncertainty due to the the upcoming change over to a dictatorship. People are likely be moving away from DC not to it.

Demand is still solid outside of DC proper. DC, more specifically the neighborhoods that are eotp are experiencing low demand.

Demand is still more than solid in certain parts of DC, specifically Upper Northwest.

That is basically what the poster said in the sentence you did not highlight.

DP. Upper NW is within "DC proper," hence the "NW."

[Anonymous]

$800K range has got to be the worst price point to try to sell in DC.

At $800K you're looking at bad schools and probably not close to a metro stop. For higher income people you can stretch and get good schools and much lower crime for just a few hundred thousand extra. For lower income people if you're going to deal with bad schools and low walkability anyway, you can pay half as much EOTR or in PG county.

I can't think of a single neighborhood in DC proper where houses cost $800K and I'd be willing to spend $800K to live there.

[Anonymous]

EOTR in neighborhoods such as Fairlawn, Anacostia, I find demand to be still very strong. Any house comes up either gets a good offer or investors come in with all cash. Some of the neighborhoods are becoming unaffordable for us minorities and I see prices are high for us to buy.