Markets & Economy

DC metro trends reflect 2006 conditions after months of improvements

Both home prices and home sales are on the rise in The Capital.
  • A total of 4,117 homes closed in September in DC, showing an increase in five-year and 10-year averages by 16.3 percent and 15.1 percent, respectively.
  • September marked the 10th month of consecutive home sale increases.
  • New listings are up 3.2 percent in September over the same month last year.

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The Washington, D.C. metro hasn't looked this good since 2006, according to new data provided by RealEstate Business Intelligence, a subsidiary of MRIS. September marked the 10th consecutive month of annual increases, marking a 15.4 percent increase over September 2014. A total of 4,117 homes closed in September in DC, showing a major uptick in both the five-year and 10-year averages by 16.3 percent and 15.1 percent, respectively. All aspects of the housing market are playing into the overall success, but the single-family home is leading the pack with a year-over-year increase of 20.3 percent. These trends aren't anticipated to wane anytime soon. RealEstate Business Intelligence found pending sales and new contracts to have increased over last year. September saw 4,781 new pending home sales which beat the 10-year average by a whopping 24 percent. The growing demand for housing is naturally a boon in the realm of home prices. Since September 2014, home prices upticked by ...