Real Estate News Roundup for October

Our friends over at UrbanTurf have helpfully broken down some relevant statistics from Zillow’s latest Consumer Housing Trends Report for 2023. The UrbanTurf headline says it all: “1 in 5 Home Sellers Received Four or More Offers.”

There are lots of other good bits and bobs in the Zillow report, including growth in the first-time buyers’ category, the continued importance of digital tools and virtual home tours, and the probably-unintentionally funny statistic: “buyer households are more likely to report having at least one pet (78%) than a child (40%).”

Zillow’s full report (including more statistics about pet-owning buyers) can be found here.

Forbes, meanwhile, has a story about the Federal Reserve’s latest meeting and how they’ve seemingly pressed pause on any more rate raises for now. Now the real question, experts say, is when they might start cutting rates again.

Also a bit more good news from Zillow, which found that new home sales increased unexpectedly in October. “A record high number of new units under construction – the largest in more than 14 years – is slowly finding its way on the market,” the blog says.

Spotlight Sale

$15 million – That’s how much the Georgetown mansion formerly owned by Jackie Kennedy fetched at auction (estimated. There’s still some paperwork to be done before the winning bid is revealed.

“Sotheby’s Concierge Auctions said there were six bidders and a total of 19 bids among them, with 84% of the bids placed online at ConciergeAuctions.com,” WTOP reports. “The home was listed by Jonathan Taylor of TTR Sotheby’s International Realty.”

Other Real Estate News

Over on DC Condo Boutique, Mark Washburn breaks down the allure of Modern Farmhouse design and where you might find one in the Washington, D.C. area.
Fox News’s Bret Baier has listed his D.C. Home for $32 million—a potential record, the Washingtonian and others have noted. The listing agent is Daniel Heider of TTR Sotheby’s International Realty.
The Trulia blog has a regular feature called “My home buying story,” and recently featured a buyer named Arielle K., a health policy analyst in D.C. who bought her condo in Bloomingdale in 2016. It’s a very sweet story with some good advice, including managing your expectations, being realistic, and hanging on to some money for unexpected expenses. And since today’s theme is pets, there’s even a pet involved.
If you, like Arielle K., are in the market for a pet-friendly condo, be sure to check out a couple of our current condo listing. This one in the Westgate is right next to a dog park and this penthouse in the Ambassador has a gas fireplace for you and Fido to curl up in front of. Contact Fleur or Veronique to arrange a private showing of one of these amazing properties.

Voting Season Starts

Finally, if you are a realtor in the Washington, D.C. metro area, don’t forget to vote for the Greater Capital Area Association of Realtors 2024 Board of Directors. Voting ends November 20. Similarly, voting for the District of Columbia Association of REALTORS 2024 Board of Directors is also open and ends on November 29.

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