Lowest median days-on-market since the peak of the housing boom
The housing market in the Washington DC Metro Area continues to post strong growth as we approach the summer season. Sales are at a seven-year high for May, and new contracts are back to peak housing boom levels. The median sale price for the region is rising and posted the highest May level on record. The median sale price is now over $30,000 higher than May 2012, and over $70,000 higher than May 2011. It appears that the rising price points could be enticing more sellers to enter the market, as new listings are up nearly 20 percent from this time last year, reflecting back-to-back months of double-digit growth for this indicator.
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