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.

 

Ameer Gilani