Median Sales Prices Set February Records Closed Sales Were Virtually Flat Year over year And Inventories Levels Declined By Double digits.
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 February 2018 Bright MLS housing data.
DC Metro Area - Overview
The Washington D.C. Metro February median sales price of $410,000 was up 2.6% or $10,300 compared to last year, the 17th consecutive month of year-over-year price increases.
Sales volume across the DC Metro area was over $1.53 billion, down 3.6% from last year.
Closed sales of 3,043 were down 1.8% compared to last year and were up 2.3% from last month.
New contracts of 4,449 were down 4.4% compared to last year, but up 12.5% from last month.
The 5,308 new listings in February were down 4.5% compared to last year but were up 25.4% from last month.
Active listings of 6,494 are down 13.4% compared to last year but are up 5.5% compared to last month, this is the 22nd consecutive month of declines in year-over-year inventory.
The average percent of original list price received at sale in February was 97.7%, up from last year's 97.4%.
The median days-on-market this month was 28 days, the same as last year.
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