DC housing market

DC Housing Market Ranks as Third Most Active Market

October 6, 2017

The Washington DC housing market was ranked as the third most active metro market for the second quarter of 2017 in a new report by ATTOM Data Solutions, the nation’s largest multi-sourced property database.

The results of the report, The Q2 2017 Pre-Mover Housing, are based on the ratio of homes with “pre-mover” flags to total homes in an area for the quarter, and the higher ranking typically translates to stronger sales for the quarter that follows. An index above the national average of 100 typically means more homes would be sold during the following 30-90 days.

Which Metros Ranked in the Top 10?

The report looked at 122 housing markets and identified Colorado Springs, Colo., as the most active metro area with an index of 249. It was followed by Chicago, Ill., 241, and the DC housing market with 221. Reno, Nev., the location of a new Tesla battery factory, ranked fourth at 212; and Lexington, Ky., came in fifth with an index of 208.

The next five in the top 10 were Tampa-St. Petersburg, Fl.; Kingsport-Bristol, Tenn., Lancaster, Pa., Jacksonville, Fl., and Charleston, S.C.

“Markets with a healthy mix of access to good jobs and relatively affordable housing attracted the most interest from pre-movers in the second quarter, a harbinger of strong home sales activity in the third quarter,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Meanwhile in some of the nation’s hottest housing markets, there was more pre-mover interest in outlying counties further away from jobs but with more affordable homes to purchase.”

Loudon and Prince William Top the Counties List

Loudon County ranked first of the 309 U.S. counties analyzed for Q2 with a pre-mover index of 369, followed by Prince William County in second with 358. They were followed by Forsyth, Ga., in the Atlanta area, 317; and Will Du Page counties near Chicago, with 311 and 277 respectively.

Of the counties analyzed, 189 had an above-average index. The average home value pursued by pre-movers in these counties was $279,863. In comparison, the home value in the 120 counties with an index below the national average was $306,802.

Lakeside Title’s Montgomery County Office Is Here to Serve You

If you’re looking for a title service company, Lakeside Title Company is here to serve the DC housing market. We offer title insurance and numerous title services to streamline residential and commercial transactions for realtors, buyers and sellers and lenders. To learn more about our comprehensive title-related services, give us a call at 410-992-1070. We look forward to the chance to serve you!