Posted on August 10, 2015 by Corey Hart
Aug

10

2015

Pending contracts and sales growth continues to hit double-digit percent gains; Prices remain near record highs

Rockville, MD – (August 10, 2015) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on July 2015 MRIS housing data.

OVERVIEW

The Washington, D.C. Metro housing market enjoyed another strong month in July, with both closed and pending sales at their highest July levels in a decade.  Median sales prices continue to rise very slowly, and median days-on-market remain very low.  Closed sales of 5,225 represents a 15.1% increase from July 2014, although they are down 7.6% from June 2015.  New contracts increased by 9.4% from July 2014 to 5,221, although they did drop 9.3% compared to last month. All market segments experienced year-over-year increases in both closed sales and new contracts.  The year-over-year overall median sales prices rose 1.1% to $432,500, which nearly matches the previous July high of $435,000 seen in 2007.  The median sales price for single-family detached rose 2.8% to $550,000, while townhome prices dropped 1.9% to $410,000 and condos decreased 3.3% to $290,000. 

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Posted on August 10, 2015 by Corey Hart
Aug

10

2015

Prices up slightly compared to last year

Rockville, MD – (August 10, 2015) – The following analysis of the Baltimore Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on July 2015 MRIS housing data.

OVERVIEW

In July, the Baltimore Metro housing market saw double-digit increases in sales and pending contracts, slight growth in in inventory levels, and a small increase in year-over-year median sales prices.  Closed sales of 3,623 increased by 23.0% from July 2014, although down 6.5% from last month.  The number of new contracts increased 15.7% from the prior year to 3,959, and reached the highest July level in a decade. The median July sales price of $259,900 was up $3,900 from July 2014, and unchanged from last month.  Total sold dollar volume across the Baltimore Metro region in July was nearly $1.1 billion, up 20.8% percent from last year.

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Posted on July 10, 2015 by Corey Hart
Jul

10

2015

DC Metro continues to see strong sales and contract activity; Slow but steady appreciation pushes median sales prices to near record highs

Rockville, MD – (July 10, 2015) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on June 2015 MRIS housing data.

OVERVIEW

The Washington, D.C. Metro housing market enjoyed strong sales in June, with sales at the highest monthly level in nine years and pending sales at the highest June level in a decade.  Median days-on-market remain very low while median sales prices continue their slow but steady rise.  With closed sales of 5,652, this was the single highest monthly sales level since June 2006.  Sales increased by 13% from June 2014 and by 16.9% from May 2015.  The number of new contracts increased by 11.6% from June 2014 to 5,755, although new contracts have dropped slightly from April’s 6,203, which was the highest number of pending sales since July 2005. All market segments experienced year-over-year increases in both closed sales and new contracts.  Year-over-year, median sales prices rose by 1.4% to $439,000, which is nearly equal to the record highs of $440,000 seen in June 2013 and June 2007.  The median sales price for condos rose 4.2% to $312,500, single-family detached prices remained flat at $550,000 and townhomes increased 1.9% to $415,000. 

Compared to June 2014, inventories increased by 11.5% to 12,341 total active listings, with the number of condos increasing by the largest percentage at 19% to 3,157, townhome listings increasing by 11.4% to 2,225 and single-family detached listings increasing by 11.5% to 6,942.  New listings compared to June 2014 increased by 6.4% to 7,259 and median days-on-market (DOM) rose by three days to 15 days, up from 13 days last year. 

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Posted on July 10, 2015 by Corey Hart
Jul

10

2015

Contracts high, days-on-market low; Prices down slightly

Rockville, MD – (July 10, 2015) – The following analysis of the Baltimore Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on June 2015 MRIS housing data.

OVERVIEW

The Baltimore Metro housing market saw large increases in sales, continued slowing growth in inventory levels, and a slight decline in year-over-year median sales prices.  Closed sales of 3,873 increased by 22.8% from June 2014 and by 19.9% compared to May 2015.  The number of new contracts increased 19.7% to 4,067 from the prior year, and are at their highest June level in a decade. The median June sales price of $259,900 was down $8,100 from June 2014, but up $9,900 compared to last month.  The $289,000 median sales price for “non-distressed” sales (those not involving a short sale or foreclosures) is down $6,000 from the non-distressed median sales price of $295,000 last June and but remains steady from last month.  Total sold dollar volume across the Baltimore Metro region in June was more than $1.16 billion, up 19.6% from last year and up 24.3% from last month.  At a local level, Baltimore City’s housing market appears to be experiencing impacts from the civil unrest of April as its 7.5% gain in June contract activity is well below the 19.7% gains experienced across the region.

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Posted on June 10, 2015 by Corey Hart
Jun

10

2015

Half of May sales were on market less than two weeks; Closed sales up 6 percent from last year

Rockville, MD – (June 10, 2015) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on May 2015 MRIS housing data.

OVERVIEW

The Washington DC Metro housing market enjoyed a strong May with sales at the highest monthly level since June 2014, pending sales and prices at the highest May level in a decade, while median days-on-market remain exceptionally low.  Closed sales of 4,835 increased by 6.2% from May 2014 and by 13.3% from April 2015.  The number of new contracts increased by 8.4% from May 2014 to 6,158, although new contracts did drop slightly from last month’s 6,203, which was the highest number of pending sales since July 2005. All market segments experienced year-over-year increases in both closed sales and new contracts, with townhomes having the strongest increases of 15.3% and 10.2% respectively.  Year-over-year, overall median sales prices rose by 1.2% to $435,000, with the median sales price for townhomes rising to $427,000 and single-family detached and condos declining to $540,000 and $307,000 respectively.

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