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.
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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