Posted on March 10, 2014 by Corey Hart
Mar

10

2014

Decrease in new listings from last year; Prices up

OVERVIEW

February was another unusually cold and snowy month in the Washington DC Metro Area which may have contributed to a less active housing market.  Both buyer and seller activity slowed, with closed sales, new contracts and new listings all decreasing from this time last year.  Closed sales fell 3.5 percent and new contracts declined 11.3 percent from February 2013.  New listings decreased 3.3 percent from last year.  While closed sales and new contracts also had year-over-year declines in January, this was the first such decrease in new listings since spring 2013.  Despite the decline in new listings, active listings rose and have now increased from the prior year for five consecutive months.  There were 7,011 active listings at the end of February, 15.1 percent more than last February.  However, inventory remains low and is only 27.1 percent of its 2007 peak.  Tight inventory continues to play a role in price growth and the median sales price for the region increased 5.6 percent from last year.  This is the 25th month in a row of year-over-year increases for the region’s median price. 

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dc metro, press release
Posted on March 05, 2014 by Corey Hart
Mar

05

2014

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Posted on February 10, 2014 by Corey Hart
Feb

10

2014

Winter weather dampens buyer activity though price gains continue; Active listings increase across all property segments

OVERVIEW

The DC Metro Area was off to an unusually cold and snowy start, likely affecting buyer activity in the region.  Closed sales decreased 2.1 percent from last January with declines in both single-family detached home and townhome sales.  New contracts also decreased from last year, falling 10.5 percent with declines across all property segments.  However, seller activity continues to improve and both active listings and new listings increased from January 2013.  Active listings rose 11.5 percent from this time last year, marking the fourth consecutive month of increases for this indicator.  For the first time in over two years, there were gains in active listings for all property segments.  Even with this increase, supply remains tight and is only 26 percent of its 2007 peak level.  New listings increased 1.7 percent from last year which is a milder increase than in prior months.  The median sales price increased from the prior year for the 24th month in a row, rising 7.8 percent from last January.  While sellers are returning to the market, winter weather may dampen buyer activity in the remaining winter months.

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Posted on February 10, 2014 by Corey Hart
Feb

10

2014

Winter weather dampens buyer activity; Inventory gains across all property segments

OVERVIEW

The Baltimore Metro Area was off to an unusually cold and snowy start, likely affecting buyer activity in the region.  Closed sales decreased 2.0 percent from last January driven by declines in single-family detached home and townhome sales.  New contracts increased modestly from last year, rising 1.6 percent.  Seller activity continues to improve and both active listings and new listings increased from January 2013.  Active listings rose 6.0 percent from this time last year, led by active listings for single-family detached homes.  Inventory has now risen from the prior year for four consecutive months.  Even with this increase, supply remains tight and is only 49.3 percent of its 2008 peak level.  New listings increased 3.7 percent from last year which is a milder increase than in prior months.  The median sales price in the region increased 0.4 percent from last January, led by growth in condo properties and townhomes.  While sellers are returning to the market, weather may dampen buyer activity in the remaining winter months.

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Posted on January 10, 2014 by Corey Hart
Jan

10

2014

Buyer activity in December recovers from November slump; Cumulative 2013 sales up 9.3 from 2012 total

OVERVIEW

As 2013 comes to a close, the housing market in the Washington DC Metro Region has improved relative to last year.  For the 2013 calendar year, the total number of sales in the region increased 9.3 percent from the 2012 level and the median sale price increased by 9.6 percent.  All jurisdictions in the region had a higher median sales price in 2013 than in 2012.  In December, the region recovered from the slowdown that occurred in November due largely to the shutdown of the Federal Government.  Closed sales increased 9.7 percent from last December and 18.8 percent from last month.  The increase in closed sales from November does not follow typical seasonal patterns as the ten-year average month-over-month change is 5.7 percent.  The increases in closed sales as compared to both last year and last month indicate that the low level of sales in November was anomalous and not part of a larger trend. 

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