July's Real Estate News, Home Tips & More!
Market Trends, Maintenance Must-Dos, and Summer Design Insp
July Market Update
Home prices in the Washington D.C. metro area have tied a record high, with the median sold price hitting $640,000 in May, a 6.7% increase from last year. This surge persists despite a significant rise in inventory, with 7,353 active listings—up 32% from a year ago.
However, high home prices and elevated mortgage rates are sidelining many buyers, as evidenced by a 2.2% drop in closed sales and a 6.4% decline in new pending sales year over year. Homes are still selling quickly, with half of all May sales closing in six days or less, but the market shows signs of a summer cooldown.
Affordability remains the biggest challenge, particularly for first-time and moderate-income buyers. Market experts predict a moderation in price growth in the coming months.
July Home Maintenance Checklist
Clean Bathroom Sink and Tub Drains: Hair and debris can clog bathroom drains over time, causing them to run slowly. To clean them:
Remove the drain stopper and scrub with an old toothbrush and paper towels.
Use a drain stick to pull out hair and debris, then wipe the stick with paper towels.
Pour a cup of bleach down the drain and let it sit for 15 minutes to kill mold and mildew.
Finally, flush with hot water and reinstall the drain stopper.
Inspect Crawlspace Under House: If you have crawlspace, make sure you check it this month. Cover the ground in your crawlspace with 6 mil plastic sheeting to prevent moisture, mold, and rot. Avoid storing paper, cardboard, or wood, and regularly check for termites and plumbing leaks.
Stock Your Emergency Weather Kit: July is a great time to stock up on essentials like food, bottled water, batteries, non-perishable foods, and baby/pet supplies for hurricane season. Also, make copies of important documents, such as your homeowner’s insurance policy, and keep them in a plastic bag for protection and easy access if evacuation is necessary.
Dates To Remember & Celebrate
Kick off July with a bang! Make the most of your July 2024 calendar by enjoying all the holidays and special events to the fullest.
July 3rd (through August 11th), Dog Days Of Summer
July 4th, Independence Day
July 11th, Free Slurpee Day
July 26th, Summer Olympics Opening Ceremony
Summer Trends to Elevate Your Home
As the weather warms up, many of us feel a surge of inspiration to refresh our living spaces, wardrobes, and surroundings. This summer, several exciting trends are making waves, offering unique ways to revitalize your home and lifestyle.
Here are some of the hottest trends to watch out for:
Chef's Kiss: This season, the culinary world is stepping out of the kitchen and into our everyday lives. From espresso martini-scented candles to pasta-shaped jewelry, foodie-inspired décor and accessories are gaining popularity. Imagine adding a touch of gourmet flair to your living space with kitchen-themed art, or gifting a friend with quirky, food-inspired trinkets. It's all about celebrating the joy of food in creative and unexpected ways.
Western 2.0: The timeless Western aesthetic is experiencing a renaissance, with modern twists that make it perfect for contemporary homes. Think durable, distressed leather furnishings paired with sleek, contemporary pieces. Incorporate elements like suede cushions, fringe throws, and rustic accents to capture that iconic Western charm. This trend is not just about fashion but creating a cozy, inviting atmosphere that pays homage to the rugged beauty of the West.
Garden Chic: For those with a green thumb, the garden chic aesthetic offers a beautiful way to bring the outdoors in. This trend goes beyond traditional florals, featuring ruffled bedding, botanical motifs, and charming gardening accessories. Picture lavender-printed gardening gloves, woven harvesting baskets, and lush, green plants adorning your home. It's about creating a serene, nature-inspired environment that feels fresh and vibrant.
As you look to revamp your home this summer, consider incorporating these trends to add a touch of seasonal flair. Whether you’re drawn to the gourmet charm of Chef's Kiss, the rustic elegance of Western 2.0, or the natural beauty of Garden Chic, there’s a trend that can inspire and transform your space.
Happy decorating!
A More Intuitive Home Search Experience
New Features from Homebot!
Discovering homes on the Homebot platform has just become even more seamless and enjoyable. The newly enhanced "For You" section, available on both mobile and web, provides a more intuitive and engaging search experience with the introduction of customized Galleries. These updates are specifically designed to simplify your journey to finding your dream home. Furthermore, this section now includes personalized recommendations based on your behavior and preferences, ensuring that the search results are more relevant and engaging than ever before.
🪄 Custom insights fit for your cash flow: Based on your budget, we crunch the numbers to help you find a home that fits your financial goals.
🏡 Experts with you at every step: Without support, finding a new house can be overwhelming. Take comfort in knowing your team is with you at every step.
☑️ Get the latest homes on the market: In a market this hot, keeping up with new listings is critical to you finding a home fast.
