D.C. prices down 25% from peak!

[Jack Seiden]

I was looking through some local mls data and D.C. proper is down 25% from the peak’s in June (725k vs 545k), Montgomery county is down 17% (620k vs 515k) not a shock to me, but still crazy to actually see in the data.

[Bill B.]

I don’t know anything about the DC market and I’m definitely not making a comment on its prices. I am frustrated with how fast anything decent is selling in my market. It seems like prices dropped about 10% with flippers and “have to sellers” getting out. Then inventory dried up and stuff is going pending in days. I don’t know if they’re getting multiple offers or just jumping on the first good offer, but it is frustrating. I truly thought I’d have a chance to buy some discounted properties. But they’re “discounted” to Jan 22 prices, big whoop. 

Lots of properties hitting the MLS as already pending when listed. I've got some leases ending in May, June and august. If any of them don't renew at higher rents I'd love to trade up, especially 2 for 1.