MIDWINTER NEWS

from THE HATFIELD WEIR GALE TEAM

Are You Waiting Until Spring to List?

Do it now!

The end of 2021 marked one of the best residential real estate sales markets in years. While we don’t have a crystal ball, this hot market is defying typical seasonal demarcations and it’s holding strong into 2022. Now is the time to list!

Urban Turf reports a robust increase in residential property values in 2021, coinciding with a healthy year-over-year increase in profits for home sellers. According to Bright MLS, median home prices in 14 D.C. neighborhoods exceeded $1 million in 2021, with price increases from 2020 in most of those areas. Median home prices in Georgetown increased by 31%, with Kent at 23%, and Crestwood at 20%.

Market Indicators

Averages for January 2022

Washington, D.C.

Days on Market 40

Average Sales Price $802,751

Maryland Suburbs

Days on Market 36

Average Sales Price $927,313

National

Days on Market 61

Average Sales Price $375,000

The Nuts and Bolts of Construction Loans

Whether you’re building your dream house or reimagining and renovating, a variety of financing options are available to you. Unlike a mortgage, construction loan rates vary and are based on the size and term, and on the borrower’s creditworthiness. Since construction loans aren’t secured by a completed home, rates are on average one percent above the standard mortgage rate. For more information, click here.

Charity of the Month

Our thanks to readers who responded to our January 2022 article on food insecurity in Washington. We’re passing along information about another local charity worthy of support.

 

DC Food Project was started by a group of Washington area moms working with school administrators, local businesses, area residents, and others to ensure that children in elementary schools have nutritious food to take home in their backpacks over the weekend and on holidays, when school-provided breakfasts and lunches are not available.  The Community Bag Program, the Pantry Program, and the Share Table Program all target children and families in dire need.  You can donate here, and contributions will be matched to $10,000 by DC Central Kitchen and their supporters.

Please let us know about your favorite local charity. Our email address is team@hatfieldweir.com.

Planning a Valentine’s Day Dinner?

We recommend this tomato, red pepper and feta dish served with crusty bread. It’s colorful and delicious, with enough red to complement any dinner for your sweetheart. Romesco-Inspired Sheet Pan Feta with Peppers and Tomatoes, featured in the Washington Post, is an easy recipe that can be served as a vegetarian entree, a side dish, or as a hot appetizer. It’s yummy! 

In The News

Building of the Year

Martin Luther King, Jr. Memorial Library

D.C.’s reinvented Martin Luther King Jr. Memorial Library has been voted the 2021 Building of the Year by World Architects. Designed by in 1972 by Mies van der Rohe, one of the 20th century’s greatest architects, the library was reborn in late 2020 as a contemporary learning hub. The Dutch architecture firm Mecanoo executed the renovation and preserved the distinctive black-glass-and-steel façade—a similar element of which can be seen on Mies’ more famous Seagram Building in Manhattan. The 50-year-old library, located at 901 G Street, N.W., now includes a new public roof garden, a 300-seat auditorium, and a suite of community spaces.

Design Trends

Heated Islands, Savvy Storage, and Swivel Seating

Experts predict a trend in 2022 toward innovative home design features to solve minor inconveniences. Kitchen island countertops can be warmed up by installing a heating element like one typically used in radiant-heat floors to make a welcoming surface on brisk winter mornings.  Creatively functional storage in kitchens and bathrooms includes counter level cabinetry and custom drawers with interior electrical outlets to store devices and chargers.  In family rooms, designers are featuring swivel chairs that can be easily reoriented from interior conversation areas to views of the outdoors. 

Featured Listings and Sales

Ready for a move?

Looking for a smart city condo, a classic Washington row house, or an elegant historic estate? Call us for more information on a variety of current and upcoming listings!

We’re here for you!

The Hatfield Weir Gale Team of Washington Fine Properties is a group of four dynamic agents with decades of experience in the Washington, D.C. housing market. As a group, we are skilled in preparing and introducing properties to the market, adept at negotiating transactions, and caring and sensitive in our work with clients. Our team approach allows for unrivaled client coverage. We are consistently ranked by Washingtonian as one of the top teams in Washington, D.C., and by Real Trends as one of the top teams in America.

Have a question or concern?

Email us at team@hatfieldweir.com, or give us a call.

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