AgentIndustry News

D.C. sees third straight month of growth in home sales

Montgomery County saw gains across the board
  • Washington D.C. total home sales reached 771 in April, maintaining a year-over median price of $525,000.
  • Washington D.C. sellers received 99 percent of list price at sale.
  • The only thing down in Montgomery County is condo sales.

Jodi Jacobson / iStock.com Washington D.C. experienced its third straight month of gains in overall sales and pending sales in the Greater Capital Area Association of Realtors (GCAAR) Q1 report. There was a slight increase with new sellers entering the market, and current active listings sit at 1,307, or just 1.9 months supply. Total sales for The District topped out at 771. Whereas the median price didn't budge from last year's $525,000, the number of sales jumped 8.4 percent. Of the homes that did sell, the average amount of days on the market sat at just 10 days, helping to keep the sale price at approximately 99 percent of the list price. Single-Family Detached Homes Single-family detached homes accounted for 104 of the total sales, an 8.3 percent increase. However, due to the competitive market, GCAAR noticed a 24.7 percent boost to the number of new listings year-over-year. The average price per square foot dropped from $463 to $454. The median price dropped 12...