DC Metro Area - Update
The Washington D.C. Metro median sales price of $413,125 was up 3.3% or $13,125 compared to last year and up 2.0% or $8,125 compared to last month. This is the highest October price of the decade and the 13th consecutive month of year-over-year price increases.
Sales volume across the DC Metro area was more than $2.2 billion, up 12.8% from last year.
Closed sales of 4,320 were up 8.8% compared to last year and up 6.9% compared to last month.
New contracts of 4,969 were up 2.2% compared to last year and up 3.3% compared to last month.
New listings of 5,770 were up 6.9% compared to last year but down 17.2% below last month.
Active listings of 10,105 are down 2.8% compared to last year and down 7.3% compared to last month. This is the 18th consecutive month of declines in year-over-year inventory levels.
The average percent of original list price receuved at sale in October was 98.0
The median days-on-market for October 2017 was 17 days, six days lower than last year.