In the Washington D.C. Metro housing market, inventories continue to shrink. Sales and new pending s
April 2017’s median sales price of $436,500 was up 4.1% or $17,250 compared to last year. This is the highest April median sales price of the last decade, easily exceeding last year’s record of $419,250.
Sales volume across the DC Metro area was over $2.4 billion, up 1.7% from last April.
Closed sales of 4,598 were down 1.7% compared to last year but were up 3.3% from last month.
New contract activity of 6,097 declined 8.3% compared to last year.
New listings of 7,664 were down 13.0% compared to last year and down 6.7% compared to last month.
Active listings of 9,552 are down 14.0% compared to last year, but are up 10.5% compared to last month. This is the twelfth consecutive month of declines in year-over-year inventory levels, and inventories are at the lowest April level since 2014.
The average percent of original list price received at sale in April was 98.7%, up from last year’s 98.0%, and also up from last month’s 97.9%.
The median days-on-market for April 2017 was 10 days, 4 days lower than last year.