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December 2017 Washington, DC Market Trends Report

by Greater Capital Area Association of REALTORS®


December sales up 10.0 percent; median sales price at highest December level

December’s median sales price was $565,000, topping last year’s median by 2.7 percent and recording the highest December level on record. The 695 December sales represented a 10.0 percent increase versus last year and 3.3 percent above the December 5-year average of 673. Even with the median sales price at record highs, supply is scarce with only 1.4 months of supply on hand. There was a 3.2 percent bump in contract activity compared to last December. The 613 overall new pending sales topped the five-year December average by 11.2 percent. Closed sales increased compared to last December in every segment. Half the homes sold in December were on the market for 18 days or less and the competition among buyers kept the median percent of asking price at 99.1 percent.

  • Closed sales. The 695 December sales represented a 10.0 percent increase versus last year and 3.3 percent above the December 5-year average of 673. The 9,250 cumulative year-to-date sales are 8.6 percent more than the number sold through December of last year.
  • Contract activity. There was a 3.2 percent bump in contract activity compared to last December. The 613 overall new pending sales topped the five-year December average by 11.2 percent.
  • Listing activity. The number of new listings decreased 9.9 percent compared to last December. The 511 new listings is slightly above the five-year December average of 507.
  • Inventory. The 1,069 active listings at month’s end are 1.0 percent less than at the same point last year.
  • Months of Supply. Supply remains scarce relative to demand, continuing to drive a strong seller’s market in the District. The 1,069 active listings represent just 1.4 months of supply.
  • Prices. December’s median sales price was $565,000, topping last year’s median by 2.7 percent and recording the highest December level on record.
  • Days on Market (DOM). Half the homes sold in December were on the market 18 days or less prior to contract, 4 days longer than in December 2016.
  • Sales Price to Original List Price Ratios (SP to OLP). Half the sellers received 99.1 percent of original list priceor less, exactly the same as last December.

 
Washington, DC – (January 10, 2018) – The following analysis of the Washington, DC housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

December 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®


December closed sales dip 2.8 percent; median sales price up 2.5 percent YTD

December’s tally of 926 closed sales dipped below last year’s level by 2.8 percent and below the five-year December average by 1.4 percent. The 717 new pending sales marked a 12.1 percent dip from last December and fell below the five-year December average by 2.6 percent, or 19 contracts. There were 557 new listings added in December, 11.7 percent less than last December’s mark. The 1,569 active listings dip far below last December’s active listing total 1,799 (-12.8%). The 1,569 active listings heading into January represent 1.5 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 1.7 months of supply last December. Half of the homes sold in December were on the market 31 days or less, six days quicker than the
median DOM in December 2016. The $410,056 median in December was 1.0 percent lower than last December’s median of $414,000. The year-to-date median sales price was up 2.5 percent to $420,000 over the same time last year. Closed sales rose in the condo/co-op segment while dipping in the detached and townhouse segments.

  • Contract activity. The 717 new pending sales marked a 12.1 percent dip from last December and fell below the five-year December average by 2.6 percent, or 19 contracts.
  • Closed sales. December’s tally of 926 closed sales dipped below last year’s level by 2.8 percent and below the five-year December average by 1.4 percent.
  • Listing activity. There were 557 new listings added in December, 11.7 percent less than last December’s mark. The 1,569 active listings dip far below last December’s active listing total 1,799 (-12.8%).
  • Prices. The $410,056 median in December was 1.0 percent lower than last December’s median of $414,000. The average sales price in December was $519,650, a .9 percent increase over the December 2016 average of $515,130. The year-to-date median sales price was up 2.5 percent to $420,000 over the same time last year.
  • Price per Square Foot. The average price per square foot for homes sold in December went up 5.4 percent year-over-year, from $277 to $292.
  • Days-on-Market (DOM). Half of the homes sold in December were on the market 31 days or less, six days quicker than the median DOM in December 2016. The average DOM was 1 day quicker at 60 days.
  • Sales Price to Original List Price Ratios (SP to OLP). Sellers received 96.9 percent of original list price on average, up slightly from last December (96.1%). Half of December sellers received at least 97.7 percent oftheir original asking price, nearly the same ratio as in December 2016 (97.4%).
  • Months of Supply. The 1,569 active listings heading into January represent 1.5 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 1.7 months of supply last December. 

Washington, DC – (January 10, 2018) – The following analysis of the Montgomery County, MD housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

November 2017 Washington, DC Market Trends Report

by Greater Capital Area Association of REALTORS®


Median sales price ties last year for highest November level 
on record for Washington, DC

November’s median sales price was $549,000, matching last year’s median exactly and tying the highest November level on record. The 710 November sales represented a 5.8 percent increase versus last year and above the November 5-year average of 617. Even with the median sales price at record highs, supply is scarce with only 1.9 months of supply on hand. There was a 14.7 percent bump in contract activity compared to last November. The 755 overall new pending sales topped the five-year November average by 10.3 percent. Closed sales were down in detached, but up in the townhouse and condo segments compared to last November. Half the homes sold in November were on the market for 13 days or less and the competition among buyers kept the median percent of asking price at 100 percent.

  • Closed sales. The 710 November sales represented a 5.8 percent increase versus last year and above the November 5-year average of 617. The 8,507 cumulative year-to-date sales are 8.3 percent more than the number sold through November of last year.
  • Contract activity. There was a 14.7 percent bump in contract activity compared to last November. The 755 overall new pending sales topped the five-year November average by 10.3 percent.
  • Listing activity. The number of new listings increased 4.6 percent compared to last November. The 880 new listings is significantly above the five-year November average.
  • Inventory. The 1,433 active listings at month’s end are 7.5 percent more than at the same point last year.
  •  Months of Supply. Supply remains scarce relative to demand, continuing to drive a strong seller’s market in the District. The 1,433 active listings represent just 1.9 months of supply.
  • Prices. November’s median sales price was $549,000, matching last year’s median exactly and tying the highest November level on record.
  • Days on Market (DOM). Half the homes sold in November were on the market 13 days or less prior to contract, four days quicker than in November 2016.
  • Sales Price to Original List Price Ratios (SP to OLP). Half the sellers received 100.0 percent of original list price or less, virtually the same as last November (99.9 percent).


Washington, DC – (December 11, 2017) – The following analysis of the Washington, DC housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

November 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®


Median sales price up slightly as median days on 
market quickens in Montgomery County

November’s tally of 934 closed sales dipped below last year’s level by 1.8 percent and below the five-year November average by 11.4 percent. The 942 new pending sales marked a .8 percent dip from last November and fell below the five-year November average by 1.1 percent, or 11 contracts. There were 869 new listings added in November, 3.9 percent less than last November’s mark. The 2,052 active listings dip far below last November’s active listing total 2,314 (-11.3%). The 2,052 active listings heading into December represent 2.0 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.2 months of supply last November. Half of the homes sold in November were on the market 25 days or less, three days quicker than the
median DOM in November 2016. The $425,500 median in November was 7.2 percent higher than last November’s median of $397,000. Closed sales rose in the detached segment while dipping in the townhouse and condo/co-op segments.

  • Contract activity. The 942 new pending sales marked a .8 percent dip from last November and fell below the five-year November average by 1.1 percent, or 11 contracts.
  • Closed sales. November’s tally of 934 closed sales dipped below last year’s level by 1.8 percent and below the five-year November average by 11.4 percent.
  • Listing activity. There were 869 new listings added in November, 3.9 percent less than last November’s mark. The 2,052 active listings dip far below last November’s active listing total 2,314 (-11.3%).
  • Prices. The $425,500 median in November was 7.2 percent higher than last November’s median of $397,000. The average sales price in November was $539,771, a 10.8 percent increase over the November 2016 average of $487,387.
  • Price per Square Foot. The average price per square foot for homes sold in November went up 6.6 percent year-over-year, from $272 to $290.
  • Days-on-Market (DOM). Half of the homes sold in November were on the market 25 days or less, three days quicker than the median DOM in November 2016. The average DOM was 10 days quicker at 49 days.
  • Sales Price to Original List Price Ratios (SP to OLP). Sellers received 97.1 percent of original list price on average, up slightly from last November. Half of November sellers received at least 98.1 percent of their original asking price, a slight increase compared to November 2016.
  • Months of Supply. The 2,052 active listings heading into December represent 2.0 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.2 months of supply last November. 

Washington, DC – (December 11, 2017) – The following analysis of the Montgomery County, MD housing markethas been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiplelisting data by MarketStats by ShowingTime.

October 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®



Closed sales dip below last year but beat five-year October average

October’s tally of 985 closed sales dipped below last year’s level (which was the ten-year high for October) by 1.7 percent but was 4.2 percent higher than the five-year October average. There were 1,287 new listings added in October, .5 percent more than last October’s mark. The 2,526 active listings dipped below last October’s active listing total 2,717 (-7.1%). The 1,133 new pending sales marked a .5 percent bump from last October and beat the five-year October average by 2.4 percent, or 27 contracts. The 2,526 active listings heading into August represent 2.4 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.6 months of supply last October. Half of the homes sold in October were on the market 20 days or less, eight days quicker than the median DOM in October 2016. The $398,000 median in October was 1.4 percent lower than
last October’s median of $403,488. Closed sales rose in the townhouse and condo segments while dipping in the detached segment.

  • Contract activity. The 1,133 new pending sales marked a .5 percent bump from last October and beat the five-year October average by 2.4 percent, or 27 contracts.
  • Closed sales. October’s tally of 985 closed sales dipped below last year’s level (which was the ten-year high for October) by 1.7 percent but was 4.2 percent higher than the five-year October average.
  • Listing activity. There were 1,287 new listings added in October, .5 percent more than last October’s mark. The 2,526 active listings dip below last October’s active listing total 2,717 (-7.1%).
  • Prices. The $398,000 median in October was 1.4 percent lower than last October’s median of $403,488. The average sales price in October was $492,354, a .3 percent increase over the October 2016 average of $490,665.
  • Price per Square Foot. The average price per square foot for homes sold in October went up .7 percent year-over-year, from $279 to $281.
  • Days-on-Market (DOM). Half of the homes sold in October were on the market 20 days or less, eight days quicker than the median DOM in October 2016. The average DOM was nine days quicker at 46 days.
  • Sales Price to Original List Price Ratios (SP to OLP). Sellers received 97.7 percent of original list price on average, nearly the same as last October. Half of October sellers received at least 98.3 percent of their original asking price, up from 97.8 percent in October 2016.
  • Months of Supply. The 2,526 active listings heading into November represent 2.4 months of supply given the average sales pace over the last 12 months, favoring the seller slightly more than the 2.6 months of supply last October. 

Washington, DC – (November 10, 2017) – The following analysis of the Montgomery County, MD housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

October 2017 Washington, DC Market Trends Report

by Greater Capital Area Association of REALTORS®

Median sales price reaches highest October level on record (Washington, DC)

October’s median sales price was $550,000, an increase of 1.3 percent over last year and the highest October level on record. The 831 October sales represented a 31.9 percent increase versus last year and above the October five year average of 702. Even with the median sales price at record highs, supply is scarce with only 2.2 months of supply on hand. There was a 3.1 percent bump in contract activity compared to last October. The 870 overall new pending sales topped the five-year October average by 3.9 percent. Closed sales increased by double-digit percentages compared to last October in every segment. Half the homes sold in October were on the market for nine days or less and the competition among buyers kept the median percent of asking price at 100 percent.

  • Closed sales. The 831 October sales represented a 31.9 percent increase versus last year and above the October 5-year average of 702. The 7,758 cumulative year-to-date sales are 8.3 percent more than the number sold through October of last year.
  • Contract activity. There was a 3.1 percent bump in contract activity compared to last October. The 870 overall new pending sales topped the five-year October average by 3.9 percent.
  • Listing activity. The number of new listings increased 18.9 percent compared to last October. The 1,168 new listings is above the five-year October average.
  • Inventory. The 1,595 active listings at month’s end are 16.1 percent more than at the same point last year.
  • Months of Supply. Supply remains scarce relative to demand, continuing to drive a strong seller’s market in the District. The 1,595 active listings represent just 2.2 months of supply.
  • Prices. October’s median sales price was $550,000, an increase of 1.3 percent over last year and the highest October level on record.
  • Days on Market (DOM). Half the homes sold in October were on the market nine days or less prior to contract, three days quicker than in October 2016.
  • Sales Price to Original List Price Ratios (SP to OLP). Half the sellers received 100 percent of original list priceor less, exactly the same as last October.


Washington, DC – (November 10, 2017) – The following analysis of the Washington, DC housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

September 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®

Median sales price highest since September 2007

September’s tally of 946 closed sales increased over last year’s level by 3.2 percent and also above the five-year September average by 2.2 percent. The 1,099 new pending sales marked a 3.9 percent dip from last September and beat the five-year September average by 3.0 percent, or 32 contracts. There were 1,602 new listings added in September, 2.7 percent less than last September’s mark. The 2,770 active listings dip far below last September’s active listing total of 2,915 (-5.0%). The 2,770 active listings heading into August represent 2.7 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.8 months of supply last September. Half of the homes sold in September were on the market 24 days or less, four days quicker than the median DOM in September 2016. The average DOM was also four days quicker at 46 days. The $410,000 median in September was 4.6 percent higher than last September’s median of $392,000 – and the highest September value since 2007. Closed sales rose in the detached and condo/co-op segments while dipping in the townhouse segment.

Washington, DC – (October 10, 2017) – The following analysis of the Montgomery County, MD housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

August 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®

August median sales price reaches highest level in 10 years

August’s tally of 1,183 closed sales dipped below last year’s level by 6.9 percent but beat the five-year August average by 3.6 percent. The 1,112 new pending sales marked a 1.9 percent dip from last August but beat the five year August average by 3.2 percent, or 34 contracts. There were 1,332 new listings added in August, .2 percent more than last August’s mark. The 2,523 active listings dip far below last August’s active listing total 2,751 (-8.3%). The 2,523 active listings heading into August represent 2.4 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.7 months of supply last August. Half of the homes sold in August were on the market 21 days or less, four days quicker than the median DOM in August 2016. The average DOM was five days quicker at 44 days. The $425,000 median in August was 1.7 percent higher than last August’s median of $418,000 and is the highest median price for August in the past 10 years. Closed sales fell in all three segments.

Washington, DC – (September 12, 2017) – The following analysis of the Montgomery County, MD housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime. 

July 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®

Median sales price up slightly as median days on market quickens 

The $428,500 median in July was .8 percent higher than last July’s median of $425,000. Closed sales rose in the townhouse segment while dipping in the detached and condo/co-op segments. Half of the homes sold in July were on the market 16 days or less, six days quicker than the median DOM in July 2016. July’s tally of 1,160 closed sales dipped below last year’s level by 7.2 percent and below the five-year July average by 3.5 percent. The 1,156 new pending sales marked an 8.0 percent dip from last July and fell below the five-year July average by 4.3 percent, or 52 contracts. There were 1,415 new listings added in July, .2 percent less than last July’s mark. The 2,668 active listings dip far below last July’s active listing total 2,882 (-7.4%). The 2,668 active listings heading into August represent 2.6 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.8 months of supply last July. 

Washington, DC – (August 14, 2017) – The following analysis of the Montgomery County, MD housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

June 2017 Washington, DC Market Trends Report

by Greater Capital Area Association of REALTORS®

New listings up 25 percent as median sales price reaches highest June level
Washington, DC – (July 12, 2017) – The following analysis of the Washington, DC housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

Overview
The number of new listings increased 25.0 percent compared to last June. The 1,348 new listings exceed the five year June average (1,120) by 20.3 percent. In addition, there were double-digit increases in new listings in all three segments. June’s median sales price was $590,000, a 5.4 percent increase over last year’s median of $560,000 and the highest June level on record. The 901 June sales represented a .7 percent decrease versus last year but are 51 sales above the June 5-year average of 860. The 1,505 active listings represent just 2.1 months of supply. There was a 7.0 percent bump in contract activity compared to last June. The 987 overall new pending sales topped the five year June average by 9.2 percent. Half the homes sold in June were on the market for 8 days or less and the competition among buyers kept the median percent of asking price at 100 percent.

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Photo of Phyllis Wiesenfelder Real Estate
Phyllis Wiesenfelder
Long & Foster Real Estate, Inc.
4650 East West Highway
Bethesda MD 20814
Direct: (301)215-6915
Mobile: (301)529-3896
Fax: Office: 301-907-7600