Washington D.C. Property

Washington, D.C. formally the District of Columbia is the capital of the United States, founded on July 16, 1790. The city is located on the north bank of the Potomac River and is bordered by the states of Virginia to the southwest and Maryland to the other sides. The District has a population of 591,833; however, because of people coming from the surrounding suburbs, its population rises to over one million during the weekdays. The District is a part of Washington Metropolitan Area, which has a population of 5.3 million. It is the ninth-largest metropolitan area in the country. Washington DC is one of the world busiest business hubs. It hosts 174 foreign embassies as well as the headquarters of some of the world leading organizations like World Bank, the International Monetary Fund (IMF), Pan American Health Organization (PAHO), etc.

Washington has a humid subtropical climate. The weather at the time of spring and fall is of low humidity while that in winter it is cool. Summers are usually hot and humid and it is often accompanied by thunderstorm, tornadoes and hurricanes. The climate is suitable for people who want to enjoy the winters and fall.

Washington, D.C. does not resemble most of the American cities. Unlike other large cities, skyscrapers do not dominate here. Congress passed a height-restriction act in 1920 to prevent federal monuments from being overshadowed by commercial construction. So the city mostly has lush green spaces and open spaces to add to its beauty. The most famous sites are in the real estate along the central mall, including the White House, individual memorials to four of the greatest presidents, and the superb museums of the Smithsonian Institution.

George Washington himself selected the real estate for the site of the capital, a diamond-shape, 100-square-mile plot not far from his property at Mount Vernon. Pierre-Charles, a French engineer who fought in the Revolution, created the classic real estate plan for the city of Washington.

The most unlikely thing about Washington is that it’s the capital of USA without being a concrete jungle which most other capitals of the world are. Homes for sale DC is about 4090, recently sold are about 2150 including around 290 open houses and approximately 960 homes in the pre foreclosure. Property in Washington DC is showing an upward trend in the average listing price category. The average listing price for homes for sale in Washington DC is around $632,603 which is an increase of 0.5%. The neighborhoods in Washington like Dupont and Georgetown have an average listing price of about $748,450 and $2,411,500 respectively. The average price per square foot in DC is about $1,366, an increase of 266% as compared to the earlier year. The other important aspect if any one is looking to buy a property in Washington is the rate of crime which is around 4.47%. The median sales price for homes in Washington DC shows a decline of around 3.1%. Sales prices have increased around 15%. So if anybody wants to buy a property in Washington DC this is the right time to invest in Washington DC realty. As the prices are low people can afford to buy quality homes at competitive market rates.