Washington, D.C. Metro and Baltimore Metro Areas – August 2019 Housing Market UpdateD.C. and Baltimore Metro areas continue seeing shrinking inventories as prices increase again in August. Sales
Washington DC Metro And Baltimore Metro Areas August 2019 Housing Market Update
Washington, D.C. Metro and Baltimore Metro Areas – August 2019 Housing Market Update
D.C. and Baltimore Metro areas continue seeing shrinking inventories as prices increase again in August. Sales weaken slightly in both markets.
Rockville, Md. (September 11, 2019) -- 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 August 2019 Bright MLS housing data.
DC Metro Area - Overview
The August 2019 Washington D.C. Metro area median home price of $465,000 was up 5.1% or $22,750 compared to last year, the highest August price of the decade.
Sales volume across the DC Metro area was nearly flat at $2.75 billion.
Closed sales of 4,907 were down 3.1% compared to last year and down 7.1% compared to last month.
New pending sales, however, were up by 2.1% to 4,845.
New listings of properties compared to last year declined by 6.8% to 5,657.
Overall inventory levels declined by 20.0% to just 7,743 active listings, the lowest August level this decade and the third month in a row of double-digit declines in year-over-year inventories.
The average percent of original list price received at sale was 98.6%, up from 98.0% last year and at the highest August level of the last ten years.
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