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
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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