Is Now the Best Time to Buy in DC?
It is a buyer’s market out there for home buyers, and the data is there to prove it in DC.
The median sales price for a home in DC in August 2007 was $460,000. One year later, it is just over $400,000. The average price per square foot for a home on the market in 2007 was $420. Today it is about $389. This week, Washington City Paper featured a home that is listed at twenty percent less than it was in 2006.
So, does all this mean that you should buy a home tomorrow?
“If it were me, I would buy now,” Catherine Jardine, Redfin’s DC market manager, told UrbanTurf. “I think most sellers are at the point where they are listing their homes at market price, so you don’t really see grossly overpriced homes these days.”
But this is not the only good news for buyers… Read on at UrbanTurf.com
Over 4 million sq ft of development is planned for the campus of the Armed Forces Retirement Home, a 77 acre property at the northwest corner of North Capitol and Irving Streets. Crescent Resources LLC has been selected to develop the site which will include 2,500 multifamily units, 1.4 million sq ft of office space, 125 hotel rooms, new retail with a 40,000-50,000 sq ft grocery store, and 20 acres of public park space. Construction could start as early as the end of this year. For more information on the development check out the recent article in the 
