DC Housing Market was at it's peak in April

According to the latest report by ShowingTime, using Bright MLS data, April 2018 was a peak performance month for DC metro real estate. This includes the median home price, amount of days on market, and number of transactions

DC April Housing.png

Left: Listings sold and metro-wide median sold price. Click to enlarge.

 

Some of the findings of the report include:

  • The Washington D.C. Metro April median sales price of $450,000 was up 3.1% or $13,500 compared to last year and was up 3.4% or $15,000 compared to last month.
  • Sales volume across the DC Metro area was over $2.6 billion, up 9.5% from last year.
  • Compared to last year, closed sales were up 5.2% to 4,837, a reversal of the prior four months of declines in year-over-year sales and at the highest April level of the decade.
  • New contracts of 6,443 were up 5.7% compared to last year.
  • There were 8,319 new listings in April up 8.5% compared to last year.
  • Active listings of 8,655 are down 9.4% compared to last year but are up 14.9% compared to last month. This is the 24th consecutive month of declines in year-over-year inventory.
  • The average percent of original list price received at sale in April was 99.0% up from last year's 98.7% and at the highest April level of the past decade.
  • The median days-on-market this month was nine days, down one day from last year and down four days from last month.  This was the lowest April DOM of the last ten years.