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Housing Inventory Remains Tight - Prices Up for Condos and Single-Family Homes

February 2013 Housing Statistics for Montgomery County & DC From GCAAR

 

Housing inventory remained tight in February with fewer condos and single-homes available. Median sales

prices were also up in both categories, while houses spent fewer days on the market.

 

Washington, DC

The average number of days on market was down 21.62% from February 2012. The median price for

condos was up 9.2%, and single-family homes saw a 12.3% increase in the median price. Available

inventory dropped from February 2012, with 39.1% fewer condo listings and 34.7% fewer single-family

listings. Condo contract activity improved slightly in February, with a 2.1% increase over February 2012, and

condo settlements increased 43.2%. Single-family contracts saw a small increase, 2.3%, and settlements

saw a minor drop, 0.8%, from February 2012.

 

Montgomery County

The average number of days on market was down 34.4% over February 2012. The median price increased

12.1% for condos and 14% for single-family homes. Available inventory decreased for condos by 33.1%,

and single-family homes, 34.4%. New condo contracts decreased by 3.4.%, but increased just slightly for

single-family homes, 1.2%. Condo settlements saw a sizeable increase in February, 26.4%, while singlefamily

settlements increased 5.8%.

Home prices make largest year-over-year jump in 6 years

by By Inman News, Tuesday, March 26, 2013.

By Inman News, Tuesday, March 26, 2013.

 

The S&P/Case-Shiller 20-City Composite index posted its largest year-over-year gain in January since the summer of 2006.   Click Here to Read More

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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