Wash Park Market Report/Review August 2013

This report shows that the Washington Park market continues to out pace the August market of a year ago. The number of sales are up and the inventory is down. The only indicator that this market is cooling a bit is the Days on Market (DOM).

A jump from the unprecedented 18 DOM in July to 31 DOM in August is significant. This confirms the experience that my colleagues and I are finding, the bidding wars have decreased and when they do occur the number of participants has decreased. It is nothing to be alarmed about. It is just a sign that we are returning to a more “normal” market. With only 2 months of inventory, it remains a strong seller’s market. If you or someone you know has an interest in selling, please don’t hesitate to get in touch.