Nearest 'the line' neighborhoods such as Brookdale/Orchardale, Greenacres, and Westhaven have the lowest average prices, (albeit--$850,000!), while Chevy Chase Village, (averages $1.1mm) while Somerset is even higher, (aver: $1.4mm). Still wonderful homes can be had in the $600's, but a close 'watch' is advised in order to get to them when they come to market. I live, work and specialize in these nieghorhoods and would be happy to asist further (301-801-2970). Good luck ,good hunting! --R--
It seems the banks are always trying to sell their REO properties, anytime of the year, and you probably get a better deal.
While there may be less on the market in August and January; buyer often get the best deals.
For instance, the "worst" time of the year is supposed to be between Thanksgiving and New Years. The weather in the DC area is cold and sloppy. Many people will withdraw their listings because they don't want the hassle of keeping their homes pristine, what with Thanksgiving, Christmas, Hannukah, Kwanza, New Years, and so on. Fair enough. But some of the absolute best bargains are to be found then. Why? Because you know if someone has their home listed then, that they're really serious about selling. None of this: "Let's test the waters." None of this: "Well, if I get the right price, I'll sell." These are serious sellers. And, meanwhile, lots of potential buyers are waiting until the spring season. So there are fewer buyers out there.
So, if you're a serious buyer (and it sounds like you are), then find a good Realtor and keep looking.
Hope that helps.
You haven't missed the buying season. In fact, now is a good time to buy because the interest rates are still low and we don't know how much longer they'll remain this way. If you don't see the houses that you like it's possible that you're not seeing the entire universe of what's out there. On the other hand, this is August and odds are that more will come on the market in early September.
September should be busier through November with people wanting to sell before the December holidays and before it gets too cold.
I've found this cycle to be fairly consistent and things busy in January and then slow again in February then back to spring market.