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 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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Posted on May 11, 2015 by Corey Hart
May

11

2015

Closed sales and new pending sales up 10% versus last April; Half of April homes sold were on market two weeks or less

Rockville, MD – (May 11, 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 April 2015 MRIS housing data.

OVERVIEW

The Washington DC Metro housing market enjoyed a strong April, with solid year-over-year increases in sales, and continued increasing levels of new contracts, and rising inventories.  Closed sales and new contracts both increased by 9.9% from April 2014.  All market segments experienced increases in both closed sales and new contracts.  The number of closed sales increased to 4,268, with single-family detached making the strongest showing, rising by 11.5% to 1,937 units.  The number of new contracts increased to 6,203 with townhomes increasing by the largest percentage of 13.5% to a total of 1,649.  Overall median sales prices rose by 1.1%, with the median price for single-family detached rising 1% to $417,000 townhomes and condos rising to $405,000 and $305,000 respectively.

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Posted on April 10, 2015 by Corey Hart
Apr

10

2015

March contracts and closed sales up over 2014 levels, inventories increase

Rockville, MD – (April 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 March 2015 MRIS housing data.

OVERVIEW

The Washington DC Metro housing market enjoyed another strong month, with year-over-year increases in sales, new contracts, inventories and median days-on-market compared to March 2014.  Closed sales increased by 15.6% from March 2014 and new contracts rose by 10.8%, with all market segments experiencing a rise.  The number of closed sales increased to 3,662 with single-family detached making the strongest showing, rising by 19.0% to 1,677 units.  The number of new contracts increased to 5,554 with single-family detached increasing by the largest percentage of 12.4% to a total of 2,622.  Overall median sales prices rose by 2.6%.

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Posted on March 10, 2015 by Corey Hart
Mar

10

2015

February home prices, contracts and closed sales up over 2014 levels; Days-on-market up significantly with increased inventory levels

Rockville, MD – (March 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 February 2015 MRIS housing data

OVERVIEW

The Washington DC Metro housing market enjoyed a strong February, with year-over-year (Y-O-Y) increases in sales, prices, new contracts, inventories and median days-on-market compared to February 2014.  Closed sales increased by almost 1% from February 2014, while prices rose by 4%, new contracts rose by 7.7%, with all categories experiencing a rise, inventories rose 16.6%, and median days-on-market (DOM) rose by 50%.  The median price for single-family detached and townhomes each rose $10,000 to $470,000 and $385,000 respectively, while condos increased by $3,000 to $286,000.

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