Congress Park Real Estate: July Update
Holy trifecta! — less inventory, fewer days on the market, and more homes sold mean that Congress Park real estate is poised for some interesting times ahead as this seller’s market just keeps intensifying.
Bones: Another Intense Experience
Congress Park has a number of great restaurants, but Bones, on Grant Street, entertains before you even get there with a website that is as whimsical and satisfying as the food. Come for the potstickers or Lobster Ramen — your kids will love the place as well.
There were 32 percent fewer homes on the market from April – June, 2014, only 53 compared to the previous quarter’s 78. This figure is still way below the inventory of a year ago at this time, when there were 264 active listings.
Congress Park real estate moved briskly this past quarter, with 51 percent more homes sold. That’s a total of 68 homes, compared to 45 during the period from January – March, 2014.
Days on the Market
Homes stayed on the Congress Park real estate market a third less time this past quarter than in the previous one, or an average of 54 days. This is a very fast turn-around for houses for this neighborhood, 18 percent faster than a year ago at this time, when the average DOM was 66.
Average Sales Price
The average sales price declined 12 percent this past quarter, from $401,533 the previous quarter to $355,075 during April – June, 2014. With Congress Park real estate stripped clean to the bones right now, though, these bargain prices are not likely to remain.
I am an experienced real estate professional who can help buyers get their offer accepted even in a competitive market like this one. I also know how to assist sellers in pricing their home right for the best possible return on their investment.
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Congress Park Real Estate