Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.
D.C. Metro area housing market update (from what we’ve seen).
- 20% increase in sales price from June
July was a record-breaking month for home sales price in the D.C. Metro area. The median sales price has reached a decade high. With rates falling below 3 percent, buyer demand continued to skyrocket. Led by Northern Virginia, Alexandria and Arlington posted decade high median prices. Additionally, homes are selling quickly, keeping inventory tight. According to Redfin, the D.C. area is the fourth most competitive housing market in the U.S.
- 13% increase in opened deals from June
July deals did not solely increase in sales price, but volume as well. We received our most deals ever in July, up 13% from June — an indication of increased seller sentiment. Redfin reports that this is the first time ever on record that July closings gained from June. Our early data predicts a 7% uptick in median sales price due to the competition, especially on single-family homes. The rebound of the D.C. Metro area housing market has been incredible. Amidst the most unpredictable times in the modern era, it has been a force for economic recovery.
- August projections: slight increase in median sales price, increase in volume
Data from our deals set to close in August reflects a slight increase in purchase price from July. The record-breaking home prices continue to beat July’s decade-high median sales price. The rates are too low to miss out on securing a new home for consumers. Our early data predicts a 7% uptick in median sales price due to the competition, especially on single-family homes. Not only will price increase, but volume as well. As seller sentiment continues to rise, the already strong buyer demand is rising as well.
Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!
The four people reported to be seriously injured when a car plowed into Ireland’s Four Courts last night may not have survived but for the quick actions of fellow pub-goers…
(Updated at 7:55 a.m.) Ireland’s Four Courts in Courthouse caught fire after a car barreled into it at the height of dinnertime Friday. The fire is now out after a…
After a steamy stretch, Mother Nature is rewarding us with a pair of new-perfect days. We hope you are able to get out there and enjoy the weather tonight and…
The adorable Kimchi, a black and white Guinea Pig is the newest Adoptable Pet of the Week.
Do you struggle with anxiety, depression, stress, grief, trauma or anger? Are
you ready to make a change?
Lauren K. Nickum, LCSW, CSAC from Peaceful Mind Solutions is now taking new
clients for psychotherapy. Lauren has over 10 years of experience treating
mental health disorders and general life stress in adults and adolescents. For
more information visit
Signature Theatre just released single tickets for all 33rd season productions, which highlights the organization’s long-time relationship with legendary composer Stephen Sondheim. Beginning with the musical adaptation of The Color Purple and irreverent No Place to Go, the season continues with three Sondheim musicals, the DC premieres of Off-Broadway hit Which Way to the Stage and Pulitzer Prize finalist Selling Kabul, the Tony Award®-winning rock musical Passing Strange, and return of Signature’s cabaret series honoring legendary artists.
“Last November, the world lost an icon. The death of Stephen Sondheim was a blow to everyone in the theater community. Signature Theatre would not be the same without Sondheim — he IS Signature’s ‘signature.’ This season, we are honoring the legend with productions of Into the Woods, Pacific Overtures and Sweeney Todd dedicated to his memory. These shows represent the diversity and range of Sondheim,” said Signature’s Artistic Director Matthew Gardiner about the new season.
Join us Sunday, Aug 28 from 12-3pm for our MEGA Wine Tasting
How it Works:
We’ve invited all our wine vendors that we work with to bring 6-10 wines in their portfolio (wines that are usually not carried at Osteria