Does the election impact DC’s real estate market?

While this might be the number one question a realtor hears this time of year during a Presidential Election year, the answer might surprise you!Our official answer is “yes” — although it may not be in the way you think. Many people assume that with a change in administration comes a mass exodus and mass influx of people with jobs related to a particular candidate or party. And although this is true to a small degree, the real impact we see is in the weeks BEFORE the election—like right now.This is the third time in a row where the US is facing a, shall we say, rather contentious election… and the real estate market is once again reacting to it. Buyers are hitting pause and listings are sitting longer than usual. As a result, many Sellers are opting to delay listing their home, and in general there is a feeling of tense anticipation. If 2016 and 2020 are any indicator, things will be “back to normal” by the end of the year, regardless of the outcome of the election. We sure hope so!

In the meantime, slow-moving inventory can translate into huge buyer opportunity, as with our current listing at Chase Point in Friendship Heights. Click here to learn more about this amazing property!