Saturday, 18 November 2017

Washington, DC - September 2017 Housing Market Update

Written by Posted On Friday, 10 November 2017 01:27

Prices at or near record highs, market activity is elevated with closed and pending sales strong, inventories continue to shrink. The following analysis of the Washington, D.C. Metro and Baltimore Metro Area housing markets has been prepared by Elliot Eisenberg, Ph.D. of MarketStats by ShowingTime and is based on September 2017 Bright MLS housing data.

 

  • The Washington D.C. Metro median sales price of $405,000 was up 1.3% or $5,100 compared to last year but was down 5.8% or $25,000 compared to last month.  This is the highest September price of the decade.
  • Sales volume across the DC Metro area was nearly $2 billion, down 2.2% from last year.
  • Closed sales of 4,040 were down 3.4% compared to last year and down 20.4% compared to last month.
  • New contract activity of 4,809 was up 2.5% compared to last year.
  • New listings of 6,972 were up 2.8% compared to last year and were up 18.3% from last month.
  • Active listings of 10,903 are down 1.8% compared to last year but up 10.6% compared to last month. This is the 17th consecutive month of declines in year-over-year inventory levels.
  • The average percent of original list price received at sale in September was 97.6%.
  • The median days-on-market for September 2017 was 20 days, four days lower than last year.

Click here to access the full PDF version of this report

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