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.

Click here to view PDF version of this report

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.

Click here to view PDF version of this report

Posted on November 12, 2012 by Corey Hart
Nov

12

2012

Market activity slows with the season, however indicators are stronger than last year; Price growth flattens, despite shrinking inventory

OVERVIEW

The Baltimore Metro housing market remains stronger than last year, but a seasonal slow-down is taking place throughout the region.  Sales numbers declined from last month, with the sharpest drop occurring in the single-family home segment.  Condo sales, on the other hand rose, which could be due to their lower price points.  Proportionally, condo sales continue to grain traction within the market, which could suggest a change in location preferences in the active buyer market. 

Posted on November 12, 2012 by Corey Hart
Nov

12

2012

Median prices are still rising due to low inventory and an uptick in market activity; Townhomes lead the way in new contracts and median price growth

OVERVIEW

Demand has picked back up in the Washington DC metro housing market in October following a typical September slow down.  Sales, new pending contracts, and median price gains are all above their 10-year average change from last month, an indication that buyers are still active in the market.  All market indicators are above last years levels, and many are at multi-year October highs.  The mild temperatures experienced in October could be playing a role as evidenced by a 7-year high for new pending contracts.  Buyers appear to be drawn towards townhomes and condo units, as the proportion of new contracts on single-family homes is the lowest it has been in 2 years.  This could be due to the lower price points of these properties as well as location preferences of the active buyer market.  Median prices are up in the region, posting the highest year-over-year price gain in nearly 7 years.

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