July 2023 DMV Real Estate Update
The July 2023 DMV real estate market remains strong as we head into the dog days of summer. While our area typically sees a slow down in late summer, as people go out of town for vacation, we don’t anticipate we will see as much of a decline this year. Interest rates are going in the opposite direction we had hoped for by this time of year – close to 7% currently. However, there is still very strong demand for housing in our area coupled with a continued lack of inventory, especially in the more affordable price ranges, driving our market.
In the past few weeks alone, our team has seen multiple offers in suburban MD, DC, and Northern VA. Buyers continue to favor homes that are already updated and priced correctly. Homes that are dated, need major work, or are overpriced are the only ones that are sitting on the market and not selling.
Need Assistance?
If you are considering selling your home this Summer or later this year, we’d be more than happy to help answer questions you may have on how to best position your home for sale. Our team can help you to get the most ROI – no matter the time of year or what interest rates are doing – so don’t hesitate to reach out!
Check Out the Full Video
Want to learn more about the July 2023 DMV real estate market? We thought as much! Check out the full YouTube video below. And be sure to check out our blog for the most up to date real estate content!
