Housing Market Update: Prices at or near record highs, market activity is elevated with closed and p
The Washington D.C. Metro median sales price of $405,000 was up 1.3% or $5,100 compared to last year but was down 5.8% or $25,000 compared to last month. This is the highest September price of the decade.
Sales volume across the DC Metro area was nearly $2 billion, down 2.2% from last year.
Closed sales of 4,040 were down 3.4% compared to last year and down 20.4% compared to last month.
New contract activity of 4,809 was up 2.5% compared to last year.
New listings of 6,972 were up 2.8% compared to last year and were up 18.3% from last month.
Active listings of 10,903 are down 1.8% compared to last year but up 10.6% compared to last month. This is the 17th consecutive month of declines in year-over-year inventory levels.
The average percent of original list price received at sale in September was 97.6%.
The median days-on-market for September 2017 was 20 days, four days lower than last year.