by Peter Fortner
Guest sponsor

Welcome to a new sponsored series on the local real estate market! Each month, I will feature a neighborhood in our DMV area, for comparison’s sake, but also for those that might who might be thinking about a move.

The real estate market remained robust in the month of April, despite rising interest rates, which remain historically low. The combination of more Millennials entering the marketplace, Boomers staying in their homes longer, and builders (on a national level) still working through a backlog of demand, keeps the housing market favoring sellers.

However, buyers with patience, persistence and the help of an experienced agent are undeterred and finding homes that check all the boxes to invest in real estate and live their best life.

The Petworth area is no exception. In April, we saw single family homes sell on average after only 11-days on market. Move-in ready and properly priced homes sold quickly, with multiple offers, escalating over the list price by as much as $132,005. Condos also have the opportunity to sell quickly when professionally marketed. Can you believe we’re seeing condos selling north of $1,000,000 right in our backyard on Illinois Avenue and Kenyon Street?

Neighborhood Feature: Takoma Park, MD
Takoma Park is a popular destination for those looking for a suburb with tree-lined streets, friendly neighbors, and a quaint downtown area with city-like amenities. Also, don’t miss their year-round premier producers-only farmers’ market. Takoma Park sells more single-family homes than condominiums (although they are available). In April, 13 single family homes sold with all but three of them escalating over the asking price.

If you have a neighborhood that you would like to see featured in Petworth News next month, reach out to me and let me know!

Reach out to me at any time for a confidential conversation if you are thinking or buying or selling a home, or if you are just curious about the value of your home or what steps you should take to make a purchase at any time in the future. I am here to help.