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Market News
April 22, 2022
By TysonsReporter.com A highly-anticipated new community has entered the Northern Virginia market. Hudson Quarter is now selling a carefully curated collection of just 18 luxury homes from a sought-after area in Sleepy Hollow. The homes at Hudson Quarter offer a spacious retreat from the hustle and bustle of popular nearby destinations. This remarkable community has been designed […]
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Market News
April 19, 2022
by UrbanTurf Sponsor Motif, a new collection of 30 modern condominium homes located in DC at the corner of 7th and Kennedy Street, will start sales in early May. Motif inspires city living at its best, with sleek residences and several modes of public transportation nearby, including the Fort Totten Metro, Capital Bikeshare, and a stop for the […]
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Market News
February 17, 2022
The pandemic has led to several trends, including low inventory, high demand and historically low interest rates, that have coalesced to create the present environment. Each of the Washington metro area’s jurisdictions experienced varying degrees of declining time on market and price appreciation since the beginning of 2019. According to data from Bright MLS, single […]
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Market News
February 16, 2022
Hudson Quarter is sited in the coveted Sleepy Hollow neighborhood of Falls Church. Here, Smith Schnider is partnering with admired local builder, The Gulick Group, to offer a limited collection of 18 single-family homes. The community, nestled in a private wooded enclave, features spacious 1/3-acre homesites, most with private backdrops. Working offsite and prior to […]
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Market News
December 14, 2021
Sales at Park Grove were brisk with all homes sold within nine months of the model home grand opening. With preview pricing from the low two million, Park Grove’s final pricing approached the three-million-dollar mark. The last closings are scheduled for December of this year. Park Grove is built upon land formerly owned by George Hertzog, former U.S. National Parks Director, who lived on the property for decades. “The history of the […]
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Market News
November 30, 2021
Arlington, VA (November 2021) — Smith | Schnider, announces Sue Martinez as Vice President of Marketing. Martinez will work as part of the Smith | Schnider executive team to manage company marketing efforts and assist in achieving project sales goals. Martinez has more than 25 years’ experience as a vice president of sales and marketing […]
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Market News
June 18, 2020
Washington, DC The District was not too far off from the rest of the Metro Area, with prices continuing to rise while supply remains at historic lows. Median sales price reached a record-high $660,000 for May, outperforming initial expectations. Incidentally, due to limited supply, sales fell almost 40% YoY for DC – distributed equally among […]
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Smith | Schnider News
June 2, 2020
The Towns at Abingdon Place is one of the few new townhome developments coming to Old Town Alexandria this Fall. The homes will be 3 bedroom, 3.5 bath, 4 level floorplans with in-home elevators as a standard feature in all the homes, as well as rooftop terraces. Built by Madison Homes, the intricate exterior brickwork of […]
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Market News
May 1, 2020
Consumer confidence was been wavering, but we have noticed an increase in comfortability-level when dealing with buyers and proper social distancing. A number of our new construction projects, such as Portrait Square in DC and Silas Station in Burke, VA, have implemented virtual tours + meetings and has proven to be extremely successful. In times […]
Market News
March 26, 2020
Washington, DC Buyers made quite a splash in the District in February, closing on 626 homes for the month, a 24% increase YoY. While sales skyrocketed, supply and sales price remained virtually unchanged from this time last year, indicating record-low interest rates are incentivizing buyers, who were previously uncertain, to purchase a home affordably and […]
Market News
February 27, 2020
Washington, DC Market activity within the District was very similar to that of the greater DC Metro-Area, with both sales and price improving over last year. 568 homes sold in January, increasing over 10% YoY, with townhomes experiencing the greatest growth rate of 19.1%. New townhomes such as our project, Portrait Square in Brookland, and […]
Market News
December 11, 2019
Washington, DC The District followed suit with the rest of the market, showing improvements in both median sales price and home sales. 687 homes sold last month with a median sales price of $620,000 – a record high for the city. All product types experienced a boost in sales, with detached homes seeing the most […]
Developer Services
October 15, 2019
Washington, DC September was a difficult month for sellers within the District. Median sales price was able to improve almost 10% to $575,000 for the month, but home sales did not follow-suit. Closed sales in DC proper increased a mere 1% YoY, despite having the most significant growth in new listings and total market inventory. […]
Market News
October 7, 2019
Washington, DC The District was no outlier for August – closings and price moved in opposition. Median sales price for the city reached $571,000, an increase of 2.1% YoY while overall sales volume dipped almost 6% YoY. Townhome sales were affected the greatest, with 11.4% fewer sales than August 2018. While townhome and condominium sales […]
Market News
July 16, 2019
Washington, DC Unlike prior months, where the District’s performance is usually an outlier, June proved to perform similarly to that of the greater DC Metro. Another record was reached for DC proper with median sales price posting an all-time high of $620,000 for June. While prices pushed higher, closings decreased almost 4% YoY with 857 […]
Market News
June 6, 2019
Washington, DC The District tends to be an outlier from the rest of the region, often out-performing other jurisdictions, but for April it was the exact opposite. DC proper was the only jurisdiction within the DC Metro area to see a drop in median sales price, slipping a mere 0.5% from last year. Sales activity […]
Market News
March 25, 2019
Washington, DC DC proper saw a decrease in buying activity during the month of February, but those who did purchase, continued to push prices beyond that of the rest of the region. With 15% fewer sales than last year, the District reached $589,000 for median sales price in February, a figure we expect to continue […]
Market News
March 5, 2019
Washington, DC The story did not change for the District during the month of January, mirroring that of the greater Metro area. Median sales price rose 6.5% YoY to reach $537,500, while in tandem, sales fell over 6% YoY dropping to 513 closings. There was no glaring gap in the market where the decline in […]
Market News
January 15, 2019
Washington, DC District proper posted a median sales price of $599,000 for December, an increase of 6% over last year. As expected, though prices rose, sales dropped almost 17% YoY with only 581 closings. The decrease in sales was seen across all property types, with detached single-family homes taking the brunt of it. Detached homes […]
Market News
December 18, 2018
Washington, DC Sale prices within the District rose over 9%, posting a median price of $600,000 for November. Similar to the Metro Area, DC experienced a significant decline in closed sales with 18% fewer than this time last year. Declining sales were evident amongst all property types with townhome and condominium closings being effected the […]
Market News
October 15, 2018
Washington, D.C. Sales price within the District reached $525,000 for the month, up 4.8% YoY. Similarly, to the Metro Area overall, while price rose, sales dropped. 588 homes sold in DC during September – 3.8% fewer than last year. Although sales failed to improve, DC proper experienced the least amount of change among all jurisdictions […]
Market News
September 12, 2018
Washington, DC DC proper’s growth in sales price mirrored that of the greater metro area’s exactly, with a 2.8% improvement YoY. Median sales price reached $560,000 for August, with 839 transactions across all property types. Condominium sales led the way for the District with 407 sales – an increase of 5.2% from this time last […]
Market News
August 16, 2018
Washington, DC DC proper’s activity for July mirrored the activity of last year almost perfectly, with minor changes in both closings and sales price. The District posted a median sales price of $569,500, a mere .1% decrease YoY while 850 properties sold, a 1.3% improvement YoY. Nearly half of all closings for July were condominium […]
Developer Services
July 12, 2018
Washington, DC The District posted an astounding $603,375 median sales price for the month of June, marking the 6th consecutive month of price increases. June surpassed May by only 2.3%, but when looking back to pre-recession levels, DC’s prices have increased over 35%! As sale prices continued to climb, the city experienced a 1% drop in […]
Market News
April 12, 2018
Washington, DC Historically DC proper has been an outlier, often outperforming the rest of the region in terms of closings and sale price, but March was a different story. Median sales price did increase slightly (3.8%YoY) to reach $555,451 for the month, while closings for March declined almost 10% to 708 sales. Closings across all […]
Market News
March 20, 2018
Washington, DC DC proper varied slightly from the overall region’s trends, with not only a 2.6%increase in sales price, but 10% growth in sales volume as well. Given the seemingly impervious demand and continuous construction within the District, the market activity exceeds that of the overall region most months. There were 595 closings last month […]
Market News
February 20, 2018
Washington, DC The District’s sales volume remained largely unchanged at 547 closings for the month of January, down just 0.4% from last year. Contrary to the overall metro area, DC also saw a slight dip in median sales price (4.3%) to reach $504,700. Closings within DC followed the typical urban trend of declining detached single-family […]
Market News
January 17, 2018
Washington, DC The District continued to set itself apart from the rest of the Metro area, with both median sales price and sales volume improving over last year. Sales price increased almost 3% YoY to reach $565,000 for the month. Sales volume in DC jumped 10% YoY with 695 closings, with the strongest growth among […]
Market News
December 12, 2017
Washington, DC As mentioned above, Washington, DC struggled to surpass last year’s sale price of $549,000 for the month of November. While price levels remained flat, sales volume increased ever so slightly. In the District, 710 homes sold last month, with both condo and townhome sales growing 7.4% and 6% YoY, respectively. Detached single-family homes […]
Market News
November 21, 2017
Washington, DC October was an incredibly active month within the District, shattering many of last year’s figures. 831 homes were sold last month, up over 30% from last October. Sales across all property types improved considerably, with at least 20% growth YoY. Townhome sales saw the greatest improvement with a 45% increase over last year. […]
Market News
October 12, 2017
Washington, DC Similarly to August, the District was the only region within the Metro area to report a drop in median sales price for the month of September. Sale prices dipped over 6% compared to this time last year, reaching $501,000. Along with diminishing sale prices, sales volume throughout the District struggled as well, dropping […]
Press
October 2, 2017
It has been a productive year for Liz Sacks since joining Smith | Schnider in June of 2016. Since coming aboard to serve as Director of Marketing for both Smith | Schnider and its home sales division, Liberty Properties, Liz has been promoted as the consulting firm’s Vice President of Marketing. “Shortly after joining Smith | […]
Market News
Washington, DC August was a bit of an anomaly for the District, having an increase in new listings while median sales price dropped. DC proper was the only region within the Metro to report a drop in median sales price, resulting in a 5% decrease YoY to $545,000. While prices dipped slightly, closings in Washington […]
Market News
August 15, 2017
Washington, DC The District remained competitive, with the same median sales price of last July at $570,000. While the sales price remained unchanged, DC experienced almost an 11% increase in closings across all property types. The most significant growth was concentrated amongst detached single-family homes, increasing 25% YoY. Townhome and condo sales improved as well […]
Market News
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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 […]