AgentMarkets & Economy

DC median sales price takes a tiny dip

Every other number climbs in RBI October Metro Housing Market Update
  • The only downward number in the report was the October median sales price. That price point slid an insignificant 0.3 percent, or about a thousand bucks, to $399,000.
  • In October, 3,871 sales closed, a 2.3 percent year-over-year increase, and the 11th consecutive month of year-over-year increases.
  • Active listings have grown 25 months in a row.

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The D.C. metro market keeps on with the exhausting pace that it has maintained for well over a year. In October, 3,871 sales closed, a 2.3 percent year-over-year increase, and the 11th consecutive month of year-over-year increases. According to the RealEstate Business Intelligence (RBI) Metro Housing Market Update, this exceeds five- and 10-year averages.  RealEstate Business Intelligence, LLC (RBI) is a primary source of real estate data, analytics and business intelligence for real estate professionals in the Mid-Atlantic Region. “This is the strongest market in 10 years, in all major metrics,” said says RealEstate Business Intelligence chief evangelist John Heithaus. Pending sales entered in October jumped by 7.8 percent, to 4,794, from last October. That marks a full year of year-over-year increases, and is the best level for pending contracts in a decade. All market segments have shown year-over-year growth for nine consecutive months. “Pending sales and ...