Posted on September 10, 2014 by Corey Hart
Sep

10

2014

Continued declines in contract activity and closed sales; No change in median sales price

OVERVIEW

Buyer activity in the Washington DC Metro area continued to be lackluster in August.  The number of closed sales decreased 9.3 percent from August 2013 and all property segments had fewer closed sales than last year.  Every jurisdiction in the region had declines in closed sales as compared to last year, which is the second time in 2014 for every jurisdiction to do so.  The largest decreases occurred in Fairfax City (-26.3 percent), Falls Church City (-25.0 percent), and Arlington County (-19.9 percent).  The number of new pending contracts also fell for all property segments and the total number declined by 6.0 percent from last August.  It should be noted, however, that both closed sales and pending sales continue to be above their 2010, 2011 and 2012 levels. The median sales price was unchanged from last August but both townhomes and condo properties had higher median sales prices than in August 2013.  The number of homes for sale continues to rise, but remains low.  Active listings reached their highest August-level in three years, but are only 43.1 percent of their peak-level.  New listings also rose from last year, marking the sixth consecutive month with year-over-year increases.

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Posted on September 10, 2014 by Corey Hart
Sep

10

2014

Mild increase in closed sales; Prices dip slightly from last year

OVERVIEW

The housing market in the Baltimore Metro Area continued its mixed performance in August.  The number of closed sales increased 1.1 percent from last year, driven by townhomes, which were the only property segment with sales growth.  The number of new pending contracts also increased, rising 7.7 percent from last August.  Every property segment had gains in new pending contracts.  But the median sales price decreased 2.8 percent from August 2013, with declines for all property segments.  This is the second consecutive month of year-over-year declines in the median sales price and the first time in nearly three years for every property segment to decline.  The number of homes for sale continues to rise and active listings increased 24.0 percent from last year, but only reached 69 percent of their peak-level.  New listings continue to contribute to this increase and have now risen from the prior year for 17 consecutive months.

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Posted on August 10, 2014 by Corey Hart
Aug

10

2014

Sales down from July 2013; Listing Activity up

OVERVIEW

The Washington, DC Metro Area continues to have lower levels of buyer activity than in 2013.  Closed sales have now decreased from their prior year during every month in 2014, and decreased 8.4 percent from last July.  New pending contracts have had year-over-year decreases for eight consecutive months.  In July, new pending contracts fell 4.8 percent, with decreases in each property segment.   Despite the lower buyer activity relative to 2013, closed sales and new pending contracts continue to be higher than in 2010, 2011 and 2012.  The median sales price increased modestly from last year, rising 0.7 percent.  This increase was driven by townhomes and condo properties, with condos reaching their highest July-level since 2007, and townhomes reaching their highest level on record, with data starting in 1997. 

Posted on August 10, 2014 by Corey Hart
Aug

10

2014

Declines in closed sales, though contract activity increases

OVERVIEW

The Baltimore Metro Area housing market performance was mixed in July.  While the number of closed sales decreased for all property segments from last year, all property segments had more new pending contracts than last year.  Closed sales for townhomes fell the most of the property segments, but also had the largest increase in new pending contracts.  The median sales price decreased by 3.1 percent from last July, driven by declines in single-family detached homes and townhomes.  But the median sales price remains higher than its July-levels in 2009 through 2012.  Inventory continues to rise and active listings reached their highest level of any month since November 2011.  However, the number of homes for sale remains low, at just 68.6 percent of its peak-level.

Posted on July 10, 2014 by Corey Hart
Jul

10

2014

Median sales price falls for the first time in over two years; Sixth month of year-over-year decreases for closed sales

OVERVIEW

Buyer activity remained below year-ago levels in the Washington, DC Metro Area.  Closed sales declined by 4.5 percent and have now been below their 2013-level every month this year.  New pending contracts also fell from this time last year and have done so for seven consecutive months.  While buyer activity is lower than last year, both closed sales and pending sales continue to outpace 2011 and 2012 levels.  The median sales price decreased from the prior year for the first time since January 2012, possibly tempered by the slowing pace of sales.  All property segments had a decline in median sales price, but only three of the jurisdictions did: the city of Alexandria, Montgomery County, and Washington, DC.  But at $433,000, the median sales price for the region was higher than any month except June 2013 since July 2007. 

dc metro, market analysis

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