October 2018 Housing Market Update: In the Washington D.C. and Baltimore Metro area housing markets,
The Washington D.C. Metro median sales price rose 3.2% or $13,350 to $426,475 compared to last year. Prices are easily at the highest October level of the decade.
Sales volume across the DC Metro area was more than $2.1 billion, down 3.9% from last year.
There were 4,056 closed sales in October, down a significant 6.1% compared to last year, but slightly better than the 10% year-over-year decline seen last month.
New pending sales were down by 4.7% to 4,734, which is the lowest October level since 2014.
New listings of 6,211 rose 7.6% compared to last year, the highest October level of the decade.
Slowing sales combined with more listings meant that year-over-year inventory levels rose for the first time since May of 2016. The 10,380 active listings at the end of October were 2.7% more than October of 2017.
The average percent of original list price received at sale in October was 97.8%, down just slightly from last year’s 98.0%.