Washington, DC Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is Washington, DC a good place to be a real estate agent? ›

Washington, D.C.

Couple that with a market that's supported by lots of reliable, high-paying government jobs, as well as a thriving private-sector, and you've got fertile ground for a blossoming real estate career.

The average Washington, DC home value is $610,163, down 1.5% over the past year and goes to pending in around 17 days.

The Washington, DC housing market is somewhat competitive. Homes in Washington, DC receive 3 offers on average and sell. The median sale price of a home in Washington, DC was $706K last month, up 14.8% since last year.

The best states for real estate agents to grow and succeed are those with good job opportunities and high demand for real estate services. Some of these include New Jersey, Florida, Illinois and California.

Wesley Heights. With a median home price of $2,668,440 and a median rent of $2,100, Wesley Heights is the most expensive neighborhood on our list. Based on the growth in home prices in Wesley Heights over the last 3 years, it ranks No. 1 among all the neighborhoods in Washington.

In the D.C. metro, the average sale-to-list-price ratio held steady at 101% of asking price. The D.C. market is showing signs of cooling nonetheless. While the median selling price is up 7% from a year ago, pending sales are down 1.6% and 5.6% of sellers lowered their original asking price.

According to research done by real estate marketers at Zillow, households making the median income would need to put $188,087 down to afford a mortgage payment in D.C. That equates to a 33.1% down payment if you account for the typical D.C. home value being $568,862.

In Washington, D.C., the average effective property tax rate is 0.55%. However, the median real estate property tax payment is $3,699, which is higher than the national average.

Should I buy property in DC? ›

However, most seem to agree that due to consistent demand and low supply, the DC metro area will remain one of the nation's strongest housing markets, mainly because this past year's higher mortgage rates have affected the region to a lesser degree than others in the country.

Q: What are the Washington, D.C., neighborhoods? A: There are several dozen D.C. neighborhoods that make up the four quadrants — too many to list here. Among the best neighborhoods around D.C., though, are Adams Morgan, Mount Pleasant, Capitol Hill, Glover Park, and Logan Circle.

It's important to interview multiple real estate agents before making a decision on who to work with. Topics to ask about during the interview include the agent's experience, communication style and availability.

Sample Answer: I think that sales are the most important part of the real estate industry. I always strive to exceed my sales goals and have been successful in doing so for my previous employers. I am a creative seller who knows how to market properties effectively and generate higher sales volumes.

West Virginia, Vermont, Mississippi, and Connecticut are among the best states to be a real estate agent. They earned a place on our list due to their high average annual salaries and homeownership rates.

Property Inventory

Washington is a great place to look to invest in real estate. The tax incentives alone are enough to let you enjoy the extra profit. You can even use these savings to purchase another property.

The highest-paying states for real estate brokers

According to GlassDoor, the top five states with the highest real estate broker salaries are New York, California, Nevada, Iowa, and Arizona. Commissions can vary based on city, market, property type, sales volume, and experience levels.