Walk to Metro Real Estate & Information

Walk to Metro Real Estate & Information

 

Walkability is the hottest trend in picking the right location for real estate. In the DC area, nothing helps make an area hotter than proximity to the Metro.  As you explore the homes for sale near Metro stops, you will notice they are quite pricey.  

Three major trends affect the desirability of homes near the Metro.

First is traffic. Traffic in the DC Metro area seems to get worse every year, making any home within walking distance of a Metro stop more valuable.

Second, demographics of the U.S. population are changing.  There are two major demographic groups clamoring to live near the Metro.  Many baby-boomers are now empty-nesters and are looking to downsize and live in walkable neighborhoods. In addition, millennials consider a walkable location as a core value and seem to be rejecting living in urban sprawl. Keep in mind that millennials will be the largest home-buying population ever and they are just starting to enter the real estate market as buyers. There is a huge pent-up demand that will only push prices higher in these locations.

Third, nobody is making any more land to build on.  I know that seems obvious, but beyond one mile from a Metro stop home prices start dropping off.  With my own clients, about one mile seems to be the distance that is considered acceptable to be "walkable to Metro".

When thinking about walkability and Metro stops, I believe it's important to consider the other elements that make an area walkable.  The proximity to restaurants, shops, and other urban activities is a big driver in what makes some areas pricier than others.  Just living near a Metro stop alone is good, but living near a Metro stop and walkable urban activities is great when it comes to re-selling your home.

Finally, not all walkable areas are created equally.  For instance, take many of the trendy areas in DC where you can walk from one walkable area to another walkable area.  Real estate in these areas tend to sell very fast and it's not uncommon to receive multiple offers, creating price appreciation faster than most other areas.     

If you are thinking about buying or selling a home, give us a call at 202-321-4677 or send us an email to explore your options and to find out when is the best time for you to make a move.

Contact Information

Photo of The Ron Sitrin Team Real Estate
The Ron Sitrin Team
Long & Foster Real Estate, Inc.
4400 Jenifer Street NW
Washington DC 20015
Direct: 202-321-4677
Office: 202-364-5200 ext. 2922