Washington DC is an interesting place to live, starting because it is fully characterized for its politics, there is no escaping it. The most interesting fact is that it is not actually a state, DC has been fighting for statehood for a long time but it has relatively gone undiscussed. The district is divided into four quadrants, North West which covers the biggest area, North East where you find Capitol Hill, South West with the waterfront and South East the area that will surprise you.
In this opportunity let’s discuss the advantages of living in NW DC and the performance of the housing market in the area. Many people working in governmental companies or within the area of central DC must often prefer the NW to live. This area is characterized for being the largest of the four quadrants, therefore there is so much you can find. There are 57 neighborhoods and many pronounced college campuses. For the sports fanatics, you can find The Capital One Area, home of the Wizards (basketball), Washington Capitals (Hokey) and Georgetown Hoyas (Basketball). In the NW you will not need a car to travel to must areas within the territory, in fact because of the heavy traffic, more often than not, public transportation is preferred. Also, you can go within walking distance from many famous restaurants, trendy coffee shops, museums, artistic venues and local markets. Public Transportation connects you rather quickly to all other quadrants, Montgomery County, MD and Fairfax County, VA. Living in DC is definitely for those who love the urban lifestyle.
The housing market is the most competitive in the area with rather low inventory but extremely high demand, in fact many properties are often sold for higher than listing price before even hitting the market. There are constant developments and new constructions of condos and row houses. Parking is a rather big issue in the area and more significantly there is a problem with housing affordability, when renting and buying. Approximately, the medium property cost is $685,000, which is more than double the national median of $325,000. There is a deficit in housing which is the reason why now it has developed into a seller’s market. However, this does not stop prospective buyers from choosing this area as their target to find their dream home.
Although you can find many suburbs within the state limits of NW DC, for example, in the areas of Bethesda in Maryland, or Falls Church in Virginia, many clients are willing to deal with the competitiveness of the market in the area. They want to find a home that will help them give their life some spice by having the possibility of having plenty of activities to do within walking distance everyday, having the closeness to central locations and embracing the diversity of its residents.
Scroll down to check out some of my previous listings in the area…