Home sales and prices remain strong in DC
The Washington D.C. Metro median sales price of $425,000 was up 4.4% or $18,000 compared to last year and up 2.9% or $11,875 compared to last month. This is the highest November price of the decade and the 14th consecutive month of year-over-year price increases.
Sales volume across the DC Metro area was more than $2.15 billion, up 11.5% from last year.
Closed sales of 4,082 were up 4.7% compared to last year but were 5.5% below last month.
New contracts of 4,248 were up 2.2% compared to last year, the highest November level of the last 10 years.
New listings of 4,308 were up 1.0% compared to last year but down 25.3% below last month.
Active listings of 8,629 are down 5.7% compared to last year and down 14.6% compared to last month. This is the 19th consecutive month of declines in year-over-year inventory levels.
The average percent of original list price received at sale in November was 97.4%.
The median days-on-market for November 2017 was 21 days, two days lower than last year.