Tagged : demographics

Found 181 blog entries tagged as "demographics".

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DC was rated as the top performing real estate market in the nation by Clear Capitol In its June 2011 Home Data Index (HDI) Market Report. The Clear Capitol HDI report compares how local markets perform compared to national averages.

The HDI report detailed that the DC (Washington, DC - Arlington, VA - Alexandria, VA) real estate market topped the nation with a quarter-to-quarter price increase of 4.5%. The year-to-year price increase for the DC market was also tops in the nation at 4.9%.

With a strong job market and the lowest unemployment rates in the nation, the DC economy is firing on all cylinders. Residents are feeling confident about the future and looking to purchase now before prices increase even further. If you are condsidering a buying

3,081 Views, 1 Comment

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A recent article in Realtor Magazine about the real estate preferences for Generation Y buyers detailed this demographic groupings wants and desires.   This sector, who were born in the late 1970s through the early 2000s, has a strong preference for an urban living experience.  Walkability is a key desire for this group as is living in the now rather than taking a long-term view of its housing needs.

DC's Logan and Dupont neighborhoods are tailor-made for Generation Y buyers.  With WalkScores in the mid and high nineties, walkability rules the day in this part of DC.  Life without a car is a reality for many of the residents in these two neighborhoods. Many residents are able to walk to work Downtown from their Logan or Dupont home and commute via

3,242 Views, 1 Comment

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A recent WaPo article details the changing demographics in the District.  Over the last ten years, DC has seen a five percent increase in overall population and a  whopping 23% of this growth has come from young adults in the 20 to 34 age group.

DC Wards 1 and 2 are dominated by young adults with over 40% of their residents in the 20 to 34 age grouping.  Wards 3 and 6 are also strong draws for young adults with over 30% of their population between the ages of 20 to 34.  

Neighborhoods cited in the article contributing to the growth in DC's young adult population include Capitol Hill, the Northeast, downtown, Shaw and Logan Circle.  This certainly makes sense as a significant portion of the District's new development over the last decade has been

6,018 Views, 1 Comment

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The accolades continue to mount for the District....with our latest being named as the nation's most literate city in 2010.  The Most Literate Cities Study, published by Central Connecticut State University President Dr. John W. Miller ranks cities over 250,000 in six key indicators of literacy: newspaper circulation; number of bookstores; library resources; periodical publishing resources; educational attainment and Internet resources.

It is great to learn that we are living amongst the most literate citizens in the country.  This does of course put more pressure on us DC bloggers to bring the A game each and every day!  It goes without saying that intelligent, literate Washingtonians use the DC Condo Boutique when looking for a new home.

 

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The article quoted below about the five traits of today's homesbuyers is very interesting and yet not neccesarily aligned with the homebuyer traits here in the District. 

A survey by American Lives, a consumer research firm in California, conducted a study for the trade magazine Builder to answer that question. Here are their conclusions:

  • They are young. Most are under 45. Half said they had annual household incomes of $75,000 or less. Two-thirds are married.  >>>Most of our DC buyers fit the age profile highlighted in the article with the overwhelming majority in the under 45 age grouping.  The incomes are higher in the District and the percentage that are married is significantly lower.
  • They are frugal. They consistently told surveyors they were
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CNNMoney reports that the DC metro area ranks first in the nation for the percentage of residents with a college degree.  A whopping 47.3% of our residents, aged 25 or older hold college degrees.  Nationally, the average percentage of residents with a college degree is 25%. 

The DC area has topped the national charts several times this past year including leading the nation for inbound migration, #2 city for young people and #2 city for working moms.

Our smart residents looking to make a real estate investment can take advantage of the ongoing DC first time buyer tax credit as well the opportunities available for 3.5% down payments in our FHA approved condo developments.

Really smart DC residents surf over to DC Condo Boutique to look for a new

3,424 Views, 1 Comment

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ForbesWoman recently ranked Washington, DC second nationally for working moms.  The criteria utilized by ForbesWomen to rank cities included crime rates, schools, healthcare, wages and cost of living.

Strong positives for DC included the lowest unemployment rate and highest wages of all the major cities in the survey.  Working moms are finding strong employment opportunities in the government, financial services and higher education sectors.  ForbesWomen also cited significant improvements in the DC School system as another positive factor.   A challenge for the DC market is the cost of living, ranking second highest nationally.

Finding a condo or home in the District can be quite a challenge, a working mom member of the DC Condo

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Slice the commute with an inbound move

The following video about the growing challenges associated with commuting into the District from the suburbs should hit home with many of our regions empty nesters.


Is it time to get back a couple hours a day spent commuting by selling the suburban home and moving into the city?  This inbound migration is a very popular lifestyle change and the overwhelming majority of our clients who have taken this plunge never look back.  Many find the biggest hurdle to move like this is psychological....what to do with all the stuff that fills the suburban 4 BR house.

Significant new construction in the last decade has changed the face of the DC stock of DC condos.  Moving back to the District doesn't mean that you will be

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Interesting report in the minnpost.com detailing a housing experts predictions for shifts in American housingdc_beltway_traffic_250 demographics away from suburban sprawl to urban central cites and suburban town centers.  This lifestyle shift was discussed in a presentation delivered to the Urban Land Institute of Minnesota by housing researcher John Mcllwain.

For many years, the Washington DC area has been at the forefront of this suburban to urban shift described by Mcllwaine. The development around both Metro stations and town centers throughout the entire region is staggering.

Here in the District, even 25 years ago who could have predicted a renewed 14th Street Corridor....how about a revitalized Columbia Heights or luxury high-rises in the Capital Riverfront? 

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CNN reports on a study done by portfolio.com which ranks Washington, DC as the 2nd best city for a young person to settle in and start their career.   The study utilized 10 different criteria to rank the 67 largest metropolitan markets.  DC only trailed Austin with Raleigh, Boston and Houston rounding out the top five.

 

3,126 Views, 3 Comments