The Real Estate Business Intelligence reports:
Rockville, MD – (June 11, 2019) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of MarketStats by ShowingTime and is based on May 2019 Bright MLS housing data.
OVERVIEW
- The May 2019 Washington D.C. Metro area median home price of $480,000 was up 3.2% or $15,000 compared to last year and was the highest overall median sales price of the decade, breaking the previous record price of $475,000 set last month.
- This marks nearly 3 full years of year-over-year price appreciation.Sales volume across the DC Metro area was nearly $3.3 billion, up just 0.7% from last year.
- Closed sales of 5,688 in May were down 0.6% from last year, a bit of a disappointment after last month’s increase in closed sales.
- New pending sales were also down, by 1.4% to 6,399.
- New listings though, crept up by 0.9% to 8,397.
- Still, active listings continue to decline. This month, inventory levels were down 8.8% to 8,562.
- The average percent of original list price received at sale was 99.4%, the highest May and overall level of the last decade.
