2021 Real Estate Market Update: DEC

2021 Real Estate Market Update: DEC


2021 Marked A Record-Breaking Year in Median Sales Price

  • Median sales price for homes in Washington DC set a record 4 separate times, most recently in November at median $725,000.
  • Seasonal real estate cycles reflected more typical patterns than pandemic-driven 2020 numbers. In other words, 2021’s seasonal peaks (spring, fall) generally looked more like 2019 and previous years.
  • Inventory was still tight in Washington DC throughout the past year, but, towards the end of 2021, days on market (DOM) was slightly longer.

2022 Will Be Strong, What We Are Expecting

  • As the Fed reacts to inflation, mortgage rates will be impacted. We expect mortgage rates to rise in 2022, especially in the latter parts of the year. However, experts predict rates will remain favorable to buyers, below 4%.
  • Inventory, always a challenge on Capitol Hill and select zip codes in the DC area, should follow seasonal cycles. Home values will continue to appreciate in Washington DC / DC area.

At JNG, we helped our clients buy & sale more than 80 homes in 2021! The joy of helping the first-time home buyer, the satisfaction of prepping and transforming a seller’s home and seeing their happy reaction as we go-to-market and sell for more  — all of this keeps driving us to work harder and smarter for our clients!

Contact us to set up a personalized consultation – we can’t wait to share our real know-how with you!

How to Plan for 2022

We are currently actively advising our clients on near- and long-term real estate goals. Some questions to consider as you head into the new year:

* Have a short or long list of renovation plans based on spending more time at home? Better to renovate or move-up?
* Based on your current home equity, can you make a move-up and rent your current home? Or is it better to sell now? Have you considered finding a new investment property with multiple units to live in while earning rent on other unit(s)?
* If you are currently renting, are you ready to start building equity and take the big step into home ownership? What can you afford, and in what neighborhoods?

Ready to Chat with Your Neighborhood Experts?

Contact us to set up a personalized consultation to discuss YOUR home goals and best possible timing to make your next move in the market! We can’t wait to share our real know-how with you (or refer us to your colleagues, friends and neighbors)!