District Home Magazine Elite Realtors Annual Sourcebook - 1/15 | Page 23

TRENDS+
PREDICTIONS
Q&A with Ritzert Weiss Partnership
District Home Magazine: What real estate trends did you notice
in 2014?
Ritzert Weiss Partnership: The recession is officially over
throughout the DC area market for single-family homes. While
inventory grew as the number of contracts fell across most residential
categories (townhouses, condominiums), single-family detached
homes saw increases in prices as well as the number of sales.
Additionally, migration into the District and more urbanized
surrounding areas continues. This was especially apparent in
the luxury market, a market segment that is less sensitive to
potential interest rate and job market fluctuations. Transacti