Posted on November 12, 2012 by Corey Hart
Nov

12

2012

Median prices are still rising due to low inventory and an uptick in market activity; Townhomes lead the way in new contracts and median price growth

OVERVIEW

Demand has picked back up in the Washington DC metro housing market in October following a typical September slow down.  Sales, new pending contracts, and median price gains are all above their 10-year average change from last month, an indication that buyers are still active in the market.  All market indicators are above last years levels, and many are at multi-year October highs.  The mild temperatures experienced in October could be playing a role as evidenced by a 7-year high for new pending contracts.  Buyers appear to be drawn towards townhomes and condo units, as the proportion of new contracts on single-family homes is the lowest it has been in 2 years.  This could be due to the lower price points of these properties as well as location preferences of the active buyer market.  Median prices are up in the region, posting the highest year-over-year price gain in nearly 7 years.

Posted on October 19, 2012 by Corey Hart
Oct

19

2012

According to the NAR's Existing-Home Sales Report for September, the national real estate market continued to show signs of improvement last month. Existing-home sales declined modestly, but inventory continued to tighten and the national median home price recorded its seventh back-to-back monthly increase from a year earlier,

The upward trend in pricing nationally aligns with the local trends reported in our local September Housing Market Update for the DC Metro region.

Posted on October 10, 2012 by Corey Hart
Oct

10

2012

Persistent declines in active and new listings continue; Low inventory keeping prices above the 10-year average despite cooling demand

OVERVIEW

Activity has cooled in the Washington DC metro housing market as we end September, following typical seasonal market patterns. Closed sales, new pending contracts, and median prices all declined from August, however these indicators remain above September 2011 levels, and in many cases are at multi-year September highs, providing evidence of a stronger market. The median price is the highest September median price in...

Posted on September 10, 2012 by Corey Hart
Sep

10

2012

Median price up $29K from a year ago, new contracts at 7-year August high

OVERVIEW

Demand remains strong in the Washington DC Metro housing market in August, as many indicators reach multi-year highs.  Sales rose to their highest August-level in three years, and new contracts reached their highest August-level in seven years.  Prices continue to climb, up year-over-year for the seventh straight month, and their highest August-level in five years.  Low inventory of active and new listings persists, and is playing a major role in the price appreciation.

Comments: 1 |
Posted on August 10, 2012 by Corey Hart
Aug

10

2012

Active listings at their lowest level in seven years; Growth continues in condo sales, contracts, and median price

Rockville, MD – (August 10, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on July 2012 MRIS housing data.

Click here to view PDF version of this report

OVERVIEW

The shrinking inventory of homes for sale continues to play a major role in the Washington DC Metro Area housing market, though median price and sales growth has slowed.  The total inventory of active listings is the lowest of any month since August 2005.  The limited quantity of homes for sale is causing the median days-on-market to decrease (currently at 23 days, lowest July-level since 2005), and the sale-to-list price ratio to rise (currently at 96.3 percent, highest July-level since 2006). Sales and median price growth have slowed from the spring; however both are higher than this time last year.  The condo market continues to strengthen, posting the highest year-over-year increases of all residential property segments in sales, new contracts, and median sale price.

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