1. Washington, DC Metro (in various colors)
2. Condos & Co-ops (in yellow)

The median sold price for Condo & Coop properties for
October was $290,000, representing a decrease of 1.7% compared
to last month and an increase of 1.8% from Oct 2020. The average
days on market for units sold in October was 29 days, 25% below the
5-year October average of 38 days. There was a 7.5% month over
month increase in new contract activity with 3,505 New Pendings; a
2.7% MoM increase in All Pendings (new contracts + contracts carried
over from September) to 4,736; and a 7.2% decrease in supply to
5,262 active units.


This activity resulted in a Contract Ratio of 0.90 pendings per active
listing, up from 0.81 in September and an increase from 0.79 in
…

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With so many resources available online - from research materials, to tutorials, to vendor ratings - it's not uncommon to wonder whether or not you actually need a real estate professional to help you buy a home. So... do you?

It's hard to argue with all of the quality traits that an experienced Washington, DC real estate agent brings to the table for their clients: savvy negotiating skills, a rich understanding of the local housing landscape, legal knowledge, and in-depth advice for homebuyers on how to approach the entire process. Here's a short list of 5 things you can (and should) expect when hiring a real estate agent:

Market Expertise
Everything from where home values are rising most, to the best ice cream shops and concert venues-- that's the…

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Are Package Thieves Getting Rich off of You?


So, I get a call from my friend Jewell on a Friday late-afternoon, and she’s more than a little bent. As soon as I say hello, she dives into a frustrated rant about her packages being stolen, again. “Right from in front of my [expletive] door.” Are you sure? I ask... “Boo, the concierge confirmed they delivered them to my door this morning and somebody jacked my [expletive] packages before I got home,” she goes on to say. “Ty, I swear if I find out who stole my packages...," like I said, she was hot.   

My friend lives in an 84-unit condo building in the NW neighborhood of Washington, DC, but this is not an issue limited just to her building, nor to Washington, DC. Package theft is real, and is a…

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  1. Washington, DC Metro (in various colors)
  2. Condos & Co-ops (in yellow)

The median sold price for Condo & Coop properties for
September was $295,000, representing a decrease of 1.6%
compared to last month and an increase of 0.2% from Sep 2020. The
average days on market for units sold in September was 28 days,
32% below the 5-year September average of 41 days. There was a
7.6% month over month decrease in new contract activity with 3,260
New Pendings; a 5.8% MoM decrease in All Pendings (new contracts
+ contracts carried over from August) to 4,610; and a 9% increase in
supply to 5,669 active units.

This activity resulted in a Contract Ratio of 0.81 pendings per active
listing, down from 0.94 in August and a decrease from 0.88 in
…

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Landlords at a Loss

The State of Emergency for DC Landlords


The Condo Connection had the pleasure of representing our client Shirley, who purchased a 1,000 square foot condo in NE Washington, DC. This 2BR, 2BA, 2-level property was purchased as an investment property to serve as her primary income source during her retirement. Shirley officially retired in December 2019 and started off 2020 enjoying her well-earned retirement. At least, that’s how it started.

Like most of us, the absolute last thing Shirley saw coming was a pandemic, and she too, was impacted. Directly impacted. Shirley reached out to me in April and again in May 2020 and was seriously worried. She told me that her tenant lost her job because of the pandemic and had not made a…

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Washington, DC Metro (in various colors)

Condos & Co-ops (in yellow)
In Washington D.C., the median sold price for Condo & Coop properties for August was $504,950, representing an increase of 5.2% compared to last month and a decrease of 3.8% from Aug 2020. The average days on market for units sold in August was 35 days, 11% above the 5-year August average of 32 days. There was an 8.7% month over month decrease in new contract activity with 390 New Pendings; a 12.2% MoM decrease in All Pendings (new contracts + contracts carried over from July) to 506; and a 4.7% decrease in supply to 1,037 active units.

This activity resulted in a Contract Ratio of 0.49 pendings per active listing, down from 0.53 in July and a decrease…

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In 2008, the real estate landscape was on the brink of a monumental change. The Great Recession officially started in December 2007, and the housing industry was on the front lines of the longest economic slump since World War II. Homeowners who had bought at the peak of the housing bubble found themselves underwater on their loans, owing more than their homes were worth on the market, and those risky loans partnered with a rash of foreclosures caused upheaval on the secondary mortgage market, tanking investors and banks left and right.

Today, as home prices have risen back up to pre-crisis levels, the question on a lot of minds is, "What's changed since 2008?" Economic recessions happen regularly, and it's natural to wonder when the next one will…

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