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June 2017 – The Tides May be Turning

July 18, 2017

Washington DC Washington DC posted a median sales price of $590,000 for the month of June, dipping just slightly from May’s all-time high of $599,000.  Closings remained virtually unchanged from last June, with 901 homes sold within the District. As expected, the majority of closings were condo sales with 416 units sold for the month […]

Market News

May 2017 – Raising the Bar

June 14, 2017

Washington DC Washington DC achieved a personal milestone with a median sales price of $599,000 for May, reaching almost $600,000 for the first time ever. The scolding hot DC market continues to drive demand, while inventory continues to decline for the 13th straight month across the region. Although inventory has declined, closings still managed to […]

Market News

April 2017 Market Insights

May 17, 2017

Washington DC Washington DC posted a $519,000 median sales price for the month of April, decreasing just 1% YoY. This slight drop may indicate that the seller’s market in DC has peaked and buyers have reached their threshold. The next few months will be able to provide some validation if this trend continues. Though the […]

Market News

March 2017: Another Unmatched Month

April 14, 2017

Washington DC Washington DC experienced a 5.18% increase YoY in median sales price, reaching $535,000. In addition to sales price rising, the number of closings for DC improved as well. The District recorded 778 closings in March, up 19.1% YoY. The closings were distributed across multiple property types with condos/coops accounting for the majority with […]

Market News

February 2017 – One for the Record Books

March 13, 2017

Washington, DC Median sales price for DC reached $519,000, declining 3.4% compared to last February. While sales declined slightly, both closings and pending sales increased 15.6% and 3.7% YoY respectively. 541 sales closed in DC for the month of February, while 1,224 sales were pending. Townhome contracts accounted for the majority of pending sales reaching […]

Market News

Starting Off the Year Strong

February 16, 2017

Washington, DC The median sales price for DC reached $527,500 for the month of January, increasing 4.6% YoY. In addition to an increasing sales price, DC experienced a 21.1% increase YoY in closings, totaling 545 across all property types. The majority of the closings were derived from condo/coops sales reaching 253, up 16.6% YoY. Detached […]

Market News

Petworth: Affordable & Hip

January 25, 2017

Petworth has been making a name for itself the past few years by slowly gentrifying, while still retaining a sense of community. The diverse population along with its location and relatively affordable cost of living has been driving new developments and the revitalization of the Petworth neighborhood. Georgia Avenue acts as the “main street” with […]

Market News

A Gold at the NAHB Nationals Awards

Ultimately, the goal of our yellow box campaign was quite simply to connect with our recipients (prospective clients) on a very real and authentic level. Our personalized iPad customized to each recipient had a very honest and powerful statement from Smith | Schnider founder, Ron Smith and that is, “there is a better way.” The meaning […]

Market News

Trending in 2017 | More Function, Less Excess

While 65% of current home buyers are preferring new construction, McMansions are losing popularity more and more.  For 2016, we saw the first decrease in average home size since 2009, moving from 2,689 to 2,634 square feet. According to Rose Quint of NAHB, “2016 marked the end of an era that began in 2009 when […]

Market News

DC Metro Home Prices Reach the Highest Level for December Ever Recorded

January 12, 2017

The DC area posted a median price of $410,000, up 3.8% from last year and 0.8% from November. Though median sales price continues to increase, we saw closings, active listings, and sales volume decrease YoY. These metrics are indicating the continuation of a market with high demand and dwindling supply. Washington, DC DC experienced a […]

Market News

DC Metro Population Boom and What It Will Mean for You

December 21, 2016

This means that by 2025, 7,053,000 people will live in the DC metro area – saturating an already low-inventory market. According to economist Stephen Fuller, the region would need to build 35,000 new housing units a year in order to keep up with the population growth, as opposed to 30,000 or so it is producing […]

Market News

Another Record-Setting Month in 2016

December 20, 2016

Each month has posted record-setting numbers, and November is no exception. We saw the highest median sales price for the month of November since 2005 and the most closings since November 2009. As you can see in the graphic above, the median sales price for the DC metro was $407,000 in November. This is the […]

Market News

Award Wins at NAHB’s The Nationals

December 6, 2016

Who knew a big yellow box could be filled with so much impact? Well, we definitely felt a favorable amount of confidence but the reaction, level of response and now the award recognition have exceeded any expectations we ever envisioned! The goal was a simple one. To very genuinely and openly express to local developers […]

Market News

Market Insights for October 2016

November 16, 2016

Median Sales Price Growth Slows Down for DC Metro October’s median sale price for the DC Metro was $400,000, only a 0.3% improvement over last October. This is most likely the cause of appreciation and depreciation within each sub-market of the DC Metro. Prices appreciated in almost every sub-market, except Arlington County which depreciated 9%. […]

Market News

Market Insights for September 2016

October 26, 2016

Record Median Sales Prices but Low Inventory While the past few months have proven to be successful for sellers, we are seeing a slight change in supply for the DC Metro real estate market. We have seen record median sale prices, contracts, and closings recently, but no mention of the declining inventory for prospective buyers. […]

Market News

Meet Our New Market Insight Analyst

September 29, 2016

Smith | Schnider’s market value appreciated even more with the recent addition of Josh Sullivan as our new Market Insight Analyst. Josh comes to us from The CoStar Group, a national authority in commercial real estate research. At CoStar, Josh specialized in researching and compiling market data, transactional data, and property details. Josh took a […]

Market News

Record Month for DC Area Real Estate in August

September 22, 2016

Though summer is coming to a close and beginning to wind down, the DC Metro area real estate market has been experiencing just the opposite. August proved to be an unprecedented month for the real estate market, with sale price, pending contracts, and closings at a level we haven’t seen in over a decade. Washington […]

Market News

Market Insights June 2016

July 21, 2016

Homes for sale in June are moving two percent more quickly than last year as prices continue to hit new record highs. The median age of properties in June ended at 65 days, which is one day faster than last year and the same as last month. The median home was listed for $251,000, seven percent higher than one […]

Market News

Market Insights May 2016

June 27, 2016

The median age of properties in May was 65 days, which was one day faster than a year ago and two days faster than last month. The median home was listed at $250,000 – 9 percent higher than one year ago and 1 percent higher than April. For-sale housing inventory also continues to increase on […]

Market News

D.C. Area Housing Inventory Drops With Record Breaking Sales in May

June 23, 2016

During the month of May, there were 5,432 recorded sales, an increase of 12.3% from last year. Additionally, last month marked the 18th consecutive month in which closed sales increased year-over-year. While we are seeing the number of closed sales continually increasing, inventory has not been able to keep up with 7,436 new listings on […]

Market News

Market Insights April 2016

May 31, 2016

Median age of inventory in April ended at 67 days, down 8 percent year-over-year and down 9 percent from March. Median listing price for April reached a record high of $247,300; a nine percent increase year- over-year and a three percent increase month-over-month. Listing inventory in April showed a three percent increase over March. However, […]

Market News

Market Insights March 2016

April 19, 2016

Properties are averaging 75 days on the market in March, moving 14 days faster than a year ago and 19 faster than last month. The median list price in March was $238,000, 8 percent higher than one year ago and 3 percent higher than February. In Arlington County, VA, the median sold price for detached […]

Market News

Discovering What Millennials Want in Home Design

April 13, 2016

Natural Materials Barn doors are seemingly becoming more popular in new or remodeled homes. You may find them being used as sliding doors to define spaces or in smaller places such as a closet or pantry door. Julie Walter, showroom manager at Boffi Georgetown, an Italian luxury kitchen and bath designer, describes how Boffi displays […]

Market News

Which D.C. Neighborhood is the Hottest in the Nation for Home Flipping?

March 22, 2016

As we know, Petworth is one of the many up-and-coming neighborhoods in D.C. According to Curbed readers, Petworth was named “the hottest neighborhood of 2015”. Other D.C. neighborhoods that fared well were Brookland, with an average gain of $290,000, and Brightwood, coming in at an average of $261,000. In October 2015, DataLensDC reported on home […]

Market News

Market Insights February 2016

March 11, 2016

The median list price in February increased slightly from January. Inventory volume is slowly increasing, but demand is growing faster. Listing inventory in February is expected to show a 2 percent increase over January. The median age of inventory is estimated to end at 96 days, down 4 percent from January and down 6 percent […]

Market News

Arlington backs new ‘Village Center’ on Columbia Pike

February 29, 2016

At the corner of Columbia Pike and S. George Mason Drive, Reston-based Orr Partners will replace the Food Star supermarket and its associated parking lot with 365 market-rate apartments atop 82,000 square feet of ground-floor retail (including a new grocery store, possibly Harris Teeter) and a 600-space, three-level underground parking garage. The project sits on […]

Market News

2016 Forecast for D.C. Listings

The number of active listings in January 2016 rose 4.1 percent year-over-year, a major difference from 2015’s difference to 2014. In January 2015, the year-over-year growth was 17.9 percent, while in January 2014, the year-over-year growth was 11.5 percent. Elliot Eisenberg attributes this sharp decline in growth to historical cycles and sustained buyer demand. He […]

Market News

Market Insights January 2016

February 10, 2016

The median list price in January is down slightly from December, largely consistent with the seasonal shift that favors buyers. At the same time, inventory continues to move down from its yearly peak, so buyers see fewer total choices but face less competition for the supply on the market. The median age of inventory is […]

Market News

Which D.C. Neighborhood is Predicted to be the Hottest of 2016?

February 1, 2016

This year, Mount Pleasant came in at #1 for the D.C. area – followed by 16th Street Heights and Woodbridge / Fort Lincoln. Mt. Pleasant is known for its charming neighborhood feel with Wardman-style townhomes that are typically larger than rowhouses in other parts of the city and typically have access to alley parking. A […]

Market News

The Top 10 Emerging Trends Shaping Real Estate in 2016

January 28, 2016

Second Tier Cities Take Center Stage The report suggests that, in addition to having a hipness factor, cities such as Nashville, San Jose, Portland, Austin and Raleigh-Durham, benefit from lower costs of living, the increasing ease of staying connected far from main hubs, more upside from affordable and available investment opportunities, and increasing sophistication from […]

Market News

Market Insights December 2015

January 20, 2016

The median list price in December is down just 1% from November, which is actually an increase of 9% from December last year. Listing inventory is expected to trend down 7% for the month, compared with November. Homes are taking longer to sell as markets prepare for the new year, but they’re still moving fast […]

Market News

Market Insights November 2015

December 14, 2015

Residential listings continue to decline from its yearly peak. Listing inventory trended down 2 percent over October, and continued to move slower per normal seasonal patterns, with most markets entering Christmas mode. However, inventory still ended up moving faster than this time last year. The median age of inventory ended at 84 days, which is […]

Market News

The First Year – A Look Back at 2015

December 7, 2015

1. With the completion of year one for Smith | Schnider, what do you see as the top highlights of the year? Ron: We were fortunate to put together a talented core group; as good or better than anyone I’ve ever worked with. Accolades for our team, the grand opening event and new Arlington office […]

Market News

Industry News: Rise in DC Housing Inventory

October 23, 2015

Data proves that for the first time in a year, the inventory of homes on the market in Washington D.C. rose above a two-monthly supply in September. Along with the increasing inventory, we can predict that the buyer demand may be dropping off ever so slightly as we make our way into the holiday season. […]

Market News

Market Insights September 2015

October 14, 2015

Listing inventory peaked early in September and ended the month down 0.7% from August. The median age of inventory is now 80 days, which is up 6.7% from August but remains down 5% year-over-year. In Arlington County, VA, the median sold price for Detached properties for September was $752,500, compared to the median sold price […]

Market News

“Smith | Schnider Real Estate Firm Opens in Arlington”

October 8, 2015

The article touches on the history of Smith | Schnider’s founding principles; Julie Zelaska, Marty Schnider, and Ron Smith, noting that the trio has more than 75 years of real estate development, marketing and sales experience. Founding principle, Marty Schnider, describes the new firm as he says, “Our platform offers a deep, comprehensive and complementary […]

Market News

Market Insights August 2015

September 23, 2015

We saw inventory grow 2% to its likely peak for the year, and while overall demand remained strong, the trend in median days on market suggests that the market is finding more of a balance. Median days on market are down 5 percent year-over-year and up 6 percent month-over-month at 75 days, which shows the […]

Market News

“New Firm Looks to Capitalize on Upcoming Condo Boom”

August 31, 2015

Ron describes 2015 as the right timing for this launch as condos are finally coming back to the city. “We had a five-year break in the condo market,” says Ron. “Millennials haven’t really gone through a condo buying phase yet. They haven’t had the opportunity.” New developments are including condos more and more: two of […]

Market News

Best Fourth of July Firework Spots

July 2, 2015

Looking for places to watch the Fourth of July fireworks in Washington, D.C.? If you are aiming to avoid the crowds at the National Mall, you will want to check out one of these awesome locations with everything to offer from waterfront views, to great cuisine, and tasty mixed cocktails. 1. Meridian Hill Park: 2500 […]

Market News

Eye on the Economy

May 15, 2015

Spring has brought good news for the housing market. There has been a rise in pending and completed existing home sales. While new home sales declined significantly in March, the current pace of newly built home purchases is up almost 20% from a year ago. NAR estimated that the first-time homebuyer share has increased to […]

Market News

Washington D.C. Area Market Heating Up

April 30, 2015

This spring has proven that the Washington D.C. region is becoming the land of increasingly expensive homes. After a strong March, sales have heated up in the area and prices are continuing to increase into April. According to data from Real Estate Business Intelligence, more homes priced north of $1 million hit the D.C.-area market […]

Market News

Millennials Changing the Marketplace

February 15, 2015

Millennials, individuals between the ages of 18-31, are about to move into their prime spending years. So what does this mean for the economy? According to Goldman Sachs’ Global Investment Research team, Millennials will reshape the market place with their unique experiences and will change the ways we buy and sell. As we know, Millennials […]

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