Sellers’ command of the Washington-area real estate market may be weakening: real estate firm Trulia reports that 45% of DC-metro zip codes are shifting to more buyer-friendly conditions, compared to 15% last year. Analyzing factors such as how long homes are staying on the market, how frequent price cuts occur, and the ratio of sale price to original list price, Trulia found that the market is shifting towards buyers’ direction.
Pricier areas, including Northern Virginia, Bethesda, and Chevy Chase, are especially favorable to buyers. Neighborhoods in Southeast D.C. and Congress Heights remain sellers’ markets.