DC Metro Overview

January 2017’s median sales price of $390,000 was up $14,500 or 3.9% compared to last year.  This is the highest January median sales price of the last decade, topping the prior high of $385,000 seen in 2015. Sales volume across the DC Metro area was nearly $1.5 billion, up 19.5% from last January. Closed sales of 3,014 were up 11.5% compared to last year, also the highest January level in a decade, exceeding the 2,702 sales recorded last January. New contract activity also reached a ten-year January high, increasing by 15.5% versus the snowy January of 2016 to 3,954 contracts. New listings of 4,541 increased 12.8% compared to last year. Active listings of 7,224 are down 12.7% compared to last year and down 3.1% compared to last month. This is the ninth consecutive month of declines in year-over-year inventory levels, and inventories are at the lowest January level since 2014. The average percent of original list price received at sale in January was 97.0%, up from last year’s 96.0%, but the same as last month. The median days-on-market for January 2017 was 34 days, ten days lower than last year. 

Baltimore Metro Overview

The Baltimore Metro area median sales price of $234,950 was up 6.8% or $14,950 from last year, and is at the highest January level since 2008, where it was $250,000. Sales volume across the Baltimore Metro area was up 12.2% from last year to $602.6 million. January closed sales of 2,196 were up 5.9% compared to last year’s decade high of 2,073. The 3,197 new pending contracts recorded in January also set a January decade high, up 14.6% compared to last year and up 11% compared to the previous high of 2,880 set in January 2015. The 3,618 new listings in January were up 9.4% compared to last year and set a new decade high, exceeding the 3,605 seen in January 2010. The number of active listings declined by 17.2% to 9,095, the 17th consecutive month of declining year-over-year inventory levels and the lowest January level in a decade. The average percentage of original list price received at sale in January was 94.3%, the highest January level in a decade, exceeding the previous high set in January 2014 of 92.9%. The median days-on-market was 46 days, down from 56 days last year, and at the lowest level in a decade. 

Posted by Abuzar Waleed on
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