Washington, DC Real Estate Market Update: January 2025 📊 Market Trends

[Dominic M.]

Washington, DC Real Estate Market Update: January 2025📊 Market Trends:

• New Listings: Increased by 135 units (14.49%) compared to January 2024.
• Listed Median Price: Rose by $25,000 (4%) to $650,000.
• Units Sold: Went up by 87 units (23.58%) from last year.
• Sold Median Price: Decreased by $54,000 (8.93%) to $551,000.

🏠 Mortgage Rates:

• January 2025: 30-Year FRM: 6.93%, 15-Year FRM: 6.14%
• January 2024: 30-Year FRM: 6.62%, 15-Year FRM: 5.89%

Summary: The increase in new listings indicates a rise in supply year-over-year. The median listing price's upward trend suggests higher asking prices, while the decrease in sold median prices reflects a potential shift in buyer negotiation power or market adjustments. Higher mortgage rates in January 2025 compared to January 2024 may impact buyer demand and affordability.

❓ Question: How do you think the current mortgage rates and market trends will influence buyer behavior in the coming months?