It Was a Mixed Bag…
The number of sales in East Washington Park decreased for the year while the number of sales in West Washington Park increased. That makes sense. The average sales price in East Washington Park was over $2,000,000. While it was right around $1,000,000 in West Washington Park. It does not take any special real estate expertise to understand that fewer buyers can afford to pay $2 million than $1 million.
The other observation can be seen on the chart. The number of sales each month are similar to what we saw in the pre-Covid years of 2014 through 2019. Like we heard people say throughout 2024 about many things in our economy, we are back to pre-Covid levels.
The thing that has increased over 2024 and was especially high last summer is inventory. We have not seen the same number of homes for sale in 2024 since 2011. The was the first year we started to recover from the financial crisis of 2008 through 2010. Remember that?
If this information has you curious about what it might take to buy or sell a home in 2025, please don’t hesitate to reach out. We are happy to apply our 40+ years of experience of working with hundreds of Buyers and Sellers to help you make the best decisions about your real estate future.
Your call or text to Shelley at 303-981-4560 for any of your real estate questions will be warmly received.
