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Washington D.C. Residential Market Trends for 2024 Recap

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s the year winds down, I'm closing up shop a bit early - this week, to be exact. After the first of the new year, I'll be taking some well-deserved time off before diving back into the world of real estate.

    Upon my return, I'll be keeping a close eye on market trends, interest rates, and how the change in administration will impact our local DMV market. For now, I leave you with a holiday-themed column, written in verse:

    'Twas the night before closing, in an office downtown,

    Two agents were stirring, their work still unbound.

    Linda, the buyers' rep, was bold and bright,

    While Robert, the sellers', wore his suit with all his might.

    The buyers were excited, but also a bit frazzled,

    Would they be moving in by the start of next year, unfazed?

    The sellers, meanwhile, had been packing all day,

    Now exhausted, glad to be leaving their old place away.

    Linda's phone was ringing nonstop, her battery low,

    She wondered aloud where that missing file went, don't you know.

    Robert sat back, feeling smug and quite pleased,

    His work done well, no last-minute freeze.

    But poor Linda was losing her cool, dealing with buyers' stress,

    "Don't buy a couch! Don't apply for a loan, I must confess!"

    The inspector arrived, and the HVAC's demise was declared,

    The buyers erupted: "We need 20 grand!" Linda just sighed, her head in her hand, so impaired.

    As midnight drew near, chaos ensued once more,

    An appraisal adjustment, a snowstorm on its way, for sure.

    The lender went silent, their system down,

    A typo was found, and the printer had died, no sound.

    Then out in the street, a self-driving Tesla crashed with a bang,

    But no one was there to console, just a hollow clang.

    On the sidewalk, a figure appeared, clipboard in hand,

    Slick Nick, the settlement pro, with his alpaca haircut so grand.

    He adjusted his glasses, gave things a glance,

    "I've seen worse deals, but this one? Slim chance."

    "Enough of the drama, let's settle this now," he said with a grin,

    "No more late-night calls! Let's wrap it up and get in!"

    The lender was summoned, their technical glitch exposed,

    And the funds transfer quickly was expertly fixed, no need to propose.

    But Nick wasn't finished; he said with a glare,

    "You buyers and sellers - sit down, sign these papers, show you care."

    The signing happened with ease, then came pictures and handshakes galore,

    Transfer of keys, and the agents high-fived, proud once more.

    The buyers were thrilled, their joy had no bounds,

    "Can we post on Insta? Announce to the town?" they all resounded.

    The sellers smiled too, with a huge check in hand,

    To build a new house on a large plot of land.

    Linda just nodded, her patience worn thin,

    While Robert remarked on the goal they'd achieved, grateful within.

    And Nicky stood tall, his work finally done,

    Grumbled, "Good grief, this one wasn't much fun."

    He climbed back in his Tesla, phone in hand,

    Turned to the agents with a final quip: "Let's hear it for teamwork! I'm off to join friends for a shot and a beer."

    Happy Holidays! Wishing you good health, good times, and happy closings in 2025.

    Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her at DCHomeQuest.com, or follow her on Facebook at TheRealst8ofAffairs.

Washington D.C. residential market trends and statistics for 2024 review.