RBI Looks Back at the 2012 Market Trends

Posted on February 07, 2013 by Corey Hart
07

Feb

2013

The real estate market in the DC Metro, Baltimore Metro, Northern Virginia and Greater DC area continued to strengthen in 2012.  We decided to take a closer look at the year-over-year trends for a variety of metrics and identify some Top Fives per region.  Most Expensive, Most Affordable, Biggest Price Increase, Biggest Increase in Sales, Shortest DOM, Longest DOM, and which ZIP codes had the lowest or highest sales to list price ratio per region. 

Of all ZIP codes analyzed, 22206 in Great Falls had the highest median sale price at $961,250. Baltimore's 21223 had the lowest median price at $18,000. 22205 in Arlington had the lowest Median DOM, where half the homes sold were on the market 10 days or less! Sellers in Columbia Heights (20010) had the best bargaining position, as evidenced by a sale price to original list price of 99.0% for the year. Meanwhile, buyers in Baltimore's 21205  received the biggest percent discount at the negotiating table - paying 80.2% of original list price on average.

View the report below to see if your ZIP code made a Top 5 list for its region (some additional nuggets can be found below the report module).

 

Don't have time to sift through the full report?  Here are a few more takeaways:

  • In 2011, there were only 8 ZIP codes with a Median Days on Market of 21 days or less.  In 2012, there were 48.
  • Median DOM levels were lower in over 90% of all ZIP codes analyzed. NoVa and DC Metro homes sold quickest (both had a median DOM of less than 30 days).
  • The number of sales increased while cumulative new listings decreased in every region.
  • NoVa had the largest annual increase in sales, gaining 9.3 percent over its 2011 tally. Baltimore Metro was a close second with a 9.0 percent increase.
  • 82 percent of ZIP codes in Northern Virginia saw a year-over-year gain in closed sales*
  • The DC Metro region saw the biggest year-over-year gain in median sale price (cumulative) at 7.8 percent. Baltimore Metro actually had the largest average increase per ZIP at 8.8 percent.

Sign up for rbiEXPERT to get year-end reports for any ZIP code in MRIS.

Baltimore Metro Area, DC Metro Area, market analysis
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