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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.

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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