Posted on January 12, 2015 by Corey Hart
Jan

12

2015

8 percent jump in December sales; Contracts up 11 percent

OVERVIEW

The Washington DC Metro Area housing market ended on a positive note in 2014, with nearly every indicator performing better than in December 2013.  Closed sales increased 8.0 percent from 2013, the first year-over-year increase in 2014.  Only two jurisdictions had fewer closed sales than last December: Washington, D.C. (-2.2 percent) and Alexandria City (-0.6 percent).  The total number of closed sales for the year was 6.0 percent below the total number sold in 2013.  However, the total number of closed sales in 2014 was above the annual totals of every year from 2007 to 2012.  In December, the number of new pending contracts increased 10.8 percent from December 2013, marking the second consecutive month of year-over-year growth and boding well for next month’s closed sales count. 

Inventory also increased and both active listings and new listings were higher than in December of last year.  The median sales price was above its year-ago level, increasing 4.3 percent to reach the highest December-level on record.  The median sales price for the calendar year increased 1.4 percent from 2013, reaching the highest level since 2007.

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Posted on January 12, 2015 by Corey Hart
Jan

12

2015

Double-digit increase in closed sales for every jurisdiction; Contract activity up 27.5 percent

OVERVIEW

In 2014, the Baltimore Metro Area housing market continued to improve and ended on a positive note. Closed sales increased 26.7 percent between December 2013 and December 2014, the largest gain in over a year. Every jurisdiction in the region had double-digit increases in closed sales, led by Anne Arundel County (+41.5 percent). In the 2014 calendar year, the total number of closed sales increased 4.5 percent from the 2013 total. Every jurisdiction except Howard County had an increase in the number of annual sales in 2014 compared to 2013. In December, the number of new contracts signed increased 27.5 percent, indicating that upcoming months will see continued growth in closed sales.

The median sales price decreased modestly in December, driven by declines for single-family detached homes and townhomes. The median sales price for the calendar year 2014 was virtually unchanged from 2013, falling by 0.2 percent. The decrease was driven by price declines in Baltimore City and Harford County. Buyers continue to have more options as inventory rises. Heading into 2015, active inventory is 14.1 percent higher than the same point last year. New listings in December increased 28.0 percent over the number added in December 2013.

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Posted on December 10, 2014 by Corey Hart
Dec

10

2014

Mild increase in contract activity

OVERVIEW

The November performance of the Washington DC Metro Area housing market continued to follow the patterns seen through most of 2014. Closed sales decreased 1.0 percent from November 2013. While this is a milder increase than in prior months, housing performance in November 2013 was affected by the shutdown of the Federal government in October 2013. Between November 2013 and November 2014, the region’s decrease in closed sales was driven by three jurisdictions: Alexandria City (-11.9 percent), Fairfax County (-9.2 percent) and Montgomery County (-2.3 percent). For the region as a whole, not all property segments had fewer closed sales than last year, and single-family detached home sales increased by 6.3 percent.

Posted on December 10, 2014 by Corey Hart
Dec

10

2014

Modest decrease in median sales price versus 2013; Closed sales up in all jurisdictions

OVERVIEW

In November, the Baltimore Metro Area housing market continued to have increased buyer activity. Closed sales increased for all property segments and for all jurisdictions in the region. Of the jurisdictions, Baltimore County had the largest increase in sales from last November, rising 14.9 percent. New pending contracts also increased from last year for all property segments. Seller activity continues to improve, though the pace of new listing growth slowed in November. Inventory continues to be above year-ago levels and every property segment had double-digit gains. The median sales price decreased from November 2013 and has now been below its 2013-level for five months this year. The decline in median sales price was driven by single-family detached homes and condo properties. The median sales price of townhomes rose, which was the first increase for the property segment in eight months.

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Posted on November 10, 2014 by Corey Hart
Nov

10

2014

New contracts miss last year's mark by two percent, increase for non-distressed property contracts

OVERVIEW

The housing market trends in October in the Washington DC Metro Area were little changed from prior months.  The number of closed sales in the region fell 2.8 percent from the October 2013 level, but the decline was driven entirely by a decrease in distressed property sales.  Sales of distressed properties (foreclosures and short sales) have been decreasing since mid-2010 and declined 21.5 percent between October 2013 and October 2014.  Non-distressed sales in October were actually unchanged from last year.  New pending contracts also saw an overall decrease, but as with closed sales, the decline was largely the result of fewer contracts for distressed properties.  New contracts for distressed properties were 16.2 percent below the October 2013 level, while those for non-distressed homes increased by 1.4 percent. 

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The median sales price for the region increased 5.3 percent from October 2013 with gains in every jurisdiction.  Active listings continue to rise but are only 46.0 percent of their peak-level of 2007.  The median days-on-market increased, marking the ninth month of year-over-year increases.  But homes continue to sell more quickly than the five-year and 10-year October averages.

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