Hello Summer,
The D.C. heat has officially arrived and so has the summer buzz in real estate. On the home front, we just returned from a magical (and let’s be honest, exhausting) trip to Disney. It was the kids' first time, and seeing the wonder in their eyes made every moment worth it—even if the rides were a little more intense than expected! Now we’re settling into the rhythm of summer: swim practices, camp drop-offs, and a never-ending busy season in real estate.
We also attended Compass’ annual Retreat in Denver, where we connected with agents from across the country. One of the things we value most about Compass is its national network, which gives our clients access to top Compass referral partners if they’re considering a move outside the D.C. area. The Retreat was a great opportunity to share insights across markets and hear from our CEO, Robert Reffkin, on the importance of seller choice through Compass’ Private Exclusive network.
As for the market: we are seeing a modest increase in inventory, but supply remains tight, particularly those that are priced at $1.5M and below. Home prices are no longer at their peak, but they remain historically high. In fact, despite the recent gain in supply, the median home price still sits above 2024 levels. This week, the Federal Reserve held its policy meeting and signaled a “wait-and-see” approach, opting to hold interest rates steady as it monitors inflation and broader economic trends. In short: don’t expect significant rate cuts this summer. For buyers this means that continuing to focus in a discerning way on your real estate needs is the smart choice, especially with the increasing presence of flexible sellers and room for strategic offers. Buyers truly are in the catbird seat right now, in a way not seen in this market in many years.
Please do reach out with questions - whether you’re considering buying, selling, or just keeping an eye on the market, we’re always here to help you navigate the path forward with confidence. 🌞🏡