DC area hits highest monthly tally in a decade with over 6,000 homes sold in June
The Washington D.C. Metro median sales price dropped slightly to $455,000 from last month’s record-setting $460,000 and ranks as the second-highest monthly price of the last twenty years. It was a 2% or $9,000 increase over last year.
Sales volume across the DC Metro area was over $3.4 billion, up 5.8% from last year.
Closed sales of 6,142 were up 3.4% compared to last year and set an all-time high for the decade.
New contract activity of 5,961 dropped 0.3% compared to last year and 10.6% compared to last month’s record level of 6,668.
New listings of 7,802 were up 4.0% compared to last year but were down 3.5% compared to last month. This was the highest June level of the decade.
Active listings of 10,481 are down 7.3% compared to last year, but are up 6.2% compared to last month. This is the 14th consecutive month of declines in year-over-year inventory levels.
The average percent of original list price received at sale in June was 98.5%.
The median days-on-market for June 2017 was 12 days, two days lower than last year.
June’s regional median sales price dropped slightly to $455,000 from last month’s record high of $460,000. It is the second-highest monthly price of the last 20 years, and was a 2% or $9,000 increase over last year.
Compared to last year, single-family detached homes increased 3.6% to $575,000 and townhomes rose 2.4% to $425,000. Condo prices slipped 1.3% to $300,000.
June prices remain above the 5-year average of $442,600, and the 10-year average of $410,599.
The overall regional price of $455,000 is 28.5% above the June 2010 low of $354,000, and 2.0% above last June’s record level of $446,000.
Falls Church City is still the most expensive location in the region, with a median sales price of $726,000, down 1.6%. All other jurisdictions saw increases in year-over-year prices, with the largest in Alexandria City (+13.9% to $569,950) and the smallest in Arlington County (+0.2 to $625,000). With a median sales price of $280,000 (up 7.7% from last year), Prince George’s County remains the most affordable area in the region.
For the year to date, the regional median sales price is up 3.6% to $430,000 compared to the first half of 2016.