Burke Boguess Zimmerman Group

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Burke Boguess Zimmerman Group

Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Burke Boguess Zimmerman Group, Estate agent, 109 S Pitt Street, Alexandria, VA.

01/03/2024

Take a look at the newly listed homes at McEnearney Associates! To view the full list, please visit bbzgroup.com/new-real-estate-listings.

01/02/2024

Contract activity for the week of December 25 - 31, 2023, in the Metro DC area fell by 4.5% compared to last year's eight-day period. And for the entire year, contract activity fell by 17.4%.

Key Takeaways:
· December is always the month with the lowest number of contracts, which was certainly the case this year.
· Mortgage interest rates at the end of December stood at 6.61%, almost the same as the end of 2022. On a very encouraging note, rates have dropped from 7.79% at the end of October.
· And we continue to see homes selling more rapidly than last year – last week, homes going under contract were on the market for 48.5 days, a week faster than last year.

Why it Matters:
· 2023 was a rough year for residential real estate in the metro DC area – for purchasers. Homes were considerably less affordable than in 2022 because of consistently higher mortgage rates and higher home prices. That made it a good year for homeowners who chose to sell.
· We're optimistic as we head into 2024 because rates seem to be coming down. That's good for purchasers, and lower rates will eventually help address the biggest problem with the market: low inventory.

01/01/2024

Happy New Year!

12/28/2023

Few things speak to the most wonderful time of the year than ice skating. Whether you're making it a friend or family outing, it's a beautiful (albeit sometimes chilly) way to spend time doing something fun with people you love. Check out these spots in the DMV area! ⛸❄️ https://www.mcenearney.com/blog/ice-skating-around-the-dmv/

12/25/2023

Merry Christmas!

12/24/2023

Happy Holidays!

12/22/2023

One of our favorite things about the holiday season in the DMV area is the twinkling of lights on a dark night. Georgetown, Old Town Alexandria, Leesburg, and even Annapolis are great spots to stroll the beautifully decorated and glowing streets and candlelight tours.

In addition to those charming street scenes, there are truly spectacular light displays that are destinations and events of their own! https://www.mcenearney.com/blog/holiday-light-displays/

12/19/2023

McEnearney Associates profiles the most important market indicators for the DMV area every month! This includes:

• contract activity
• interest rates
• inventory
• affordability
• direction of the market

The report highlights why these numbers are important and what they mean for the future of the real estate market. For a copy of the full report, visit mcenearney.com/market-in-a-minute.

12/18/2023

Contract Activity in Metro DC Area Shows Slight Decline with Encouraging Trends ⤵️

For the week of December 10-16, 2023, contract activity in the Metro DC area experienced a modest decline of 0.8% compared to the same period in the previous year.

• December traditionally represents the slowest month for contract activity, and this trend has persisted in the first half of the month. Despite the seasonal slowdown, the market has shown resilience with only a marginal decrease in contract activity.
• The recent drop in mortgage interest rates to below 7% last week has significantly mitigated the substantial gap observed throughout the year. Lower rates are likely to encourage potential homebuyers.
• While overall contract activity declined slightly, two tracked areas increased. Northern Virginia and Prince George's County posted positive growth.

Why it Matters:
• The noteworthy aspect for hopeful homebuyers is the substantial decrease in mortgage interest rates over the past six weeks, making homeownership more attractive. However, despite this positive development, the challenge persists in limited inventory. The market witnessed a 25% drop in new listings compared to last year's period, potentially limiting buyers' choices.
• The accelerated pace of home sales further emphasizes the tight inventory. Homes went under contract in an average of 38.5 days last week, marking a notable reduction of 10 full days compared to the previous year. The quicker pace of sales reflects the competitive nature of the market and the high demand for available properties.

12/15/2023

Take a look at this weekend's open house guide! For more information on these homes, visit bbzgroup.com/open-houses.

Address

109 S Pitt Street
Alexandria, VA
22314

Telephone

+12025204274

Website

http://BBZgroup.com/

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