Rockville, MD – (September 11, 2018) –The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of MarketStats by ShowingTime and is based on August 2018 Bright MLS housing data.
The Washington D.C. Metro median sales price of $442,250, was up $12,250 or 2.8% from last year and at the highest August level of the decade.
Sales volume across the DC Metro area was nearly $2.8 billion, up 4.1% from last year.
There were 5,064 closed sales in August, down a slight 0.2% compared to last year.
There were 4,747 new pending sales at the end of August, down 4.4% from last year.
Compared to last August, new listings were up 3.0% to 6,071 compared to last year. This was the highest level of new August listings of the last decade.
There were 9,681 active listings at the end of August, down 1.8% compared to last year. This is the 28thconsecutive month of declines in year-over-year inventory levels, but it was the smallest year-over-year decline since last September.
The average percent of original list price received at sale in August was 98.0%, up from last year’s 97.8%.
The median days-on-market this month was 15 days, down three days from last year.
August’s median sales price of $442,250 rose 2.8% or $12,250 compared to last year but was down 2.8% or $12,750 compared to last month. This was the 23rdconsecutive month of year-over-year price increases in the D.C. Metro area.
Compared to last year, prices for single-family detached homes rose by 4.0% to $561,300, while townhome prices rose 2.8% to $425,750 and condo prices rose 1.7% to $300,000.
August prices are above the 5-year average of $423,800 and the 10-year average of $397,200.
This August’s sales price of $442,250 is 29.3% higher than the August 2009 low of $342,000.
Falls Church City continues to have the highest home prices in the region, with a median sales price of $869,500, up 7.6% from last year.
Prince George’s County remains the most affordable area, with a median sales price of $294,950, a 7.3% increase over last year.
For the year-to-date, prices are up 3.5% across the DC metro area to $445,000.
Author:DJ Jenkins Phone: 703-625-1347 Dated: September 17th 2018 Views: 252 About DJ: If You're in the Market for buying or selling your home, You Need a Great Real Estate Agent. With th...
DJ and Associates and The RE/MAX Allegiance Alliance.
Our Real Estate Services has a distinct sense of cosmopolitan awareness that is perfectly suited to the needs of her broad range of clientèle. With over 18 offices in the Northern Virginia, Maryland, and DC markets combined, DJ has consistently been one step ahead of the vast changes that have taken place in Metropolitan real estate market. A commitment to exceptional service is pivotal in DJ Jenkins, RE/MAX Allegiance, and her team's approach towards clients. Buyers and Sellers demand a higher level of service and expertise which has earned us a reputation of being the best when representing our clients. As an expert sales or relocation specialist DJ Jenkins provides excellent customer service to each client along with strong interpersonal communication and negotiation skills demonstrated by her proven track record. RE/MAX A llegiance is the number one selling RE/MAX Company in the world and one of the top 30 residential real estate brokerages in the United States. With nearly 500 Sales Associates and employees, DJ Jenkins has partnered with a network of outstanding agents with a pulse of an every changing Northern Virginia, DC and Maryland Real Estate Markets. Home ownership is on the rise, we would gladly assist in unlocking your buying and selling potential
DC Metro Area - Overview The Washington D.C. Metro March median sales
"Debbie is a very thorough and reliable real estate professional. When looking for my dream home I trusted her to direct my wife and I to the right resources. From securing my mortgage to settlement services, every resource supplied us with outstanding service. Debbie and her team was right for our family because of her expertise and her knowledge of the market. I highly recommend her because she worked hard for us and made sure we were at ease with the major purchase of our lives. Best Realtor period. If you have the opportunity to work with her, do yourself a favor and trust her."