Flat sales, high prices in DC area in February
The Washington D.C. Metro February median sales price of $410,000 was up 2.6% or $10,300 compared to last year, the 17th consecutive month of year-over-year price increases.
Sales volume across the DC Metro area was over $1.53 billion, down 3.6% from last year.
Closed sales of 3,043 were down 1.8% compared to last year and were up 2.3% from last month.
New contracts of 4,449 were down 4.4% compared to last year, but up 12.5% from last month.
The 5,308 new listings in February were down 4.5% compared to last year but were up 25.4% from last month.
Active listings of 6,494 are down 13.4% compared to last year but are up 5.5% compared to last month. This is the 22nd consecutive month of declines in year-over-year inventory.
The average percent of original list price received at sale in February was 97.7%, up from last year’s 97.4%
The median days-on-market this month was 28 days, the same as last year.