DataIndustry News

DC and Baltimore metros set new sales and price records

Both metros nearing two straight years of rises in closed sales
  • Washington D.C.'s closed sales set a new record of 5,938 in the month of June.
  • The Baltimore metro area has experienced 23 consecutive months of increased closed sales.
  • D.C. and Baltimore metros saw annual median home price increases of 1.6 percent and 5.8 percent, respectively.

The month of June managed to set new records for Washington D.C. and the Baltimore metro areas, according to MRIS data. Sellers watched as median home prices crept up, while buyers had to act fast, as inventory levels have slowly declined since last year. In the D.C. metro area, June's sales volume climbed 7.9 percent year-over-year to $3.2 billion, which is 14.1 percent higher than the previous month. The amount of closed sales in the metro reached the highest level since June 2006 -- a 5.1 percent hike to 5,938. According to data provided by ShowingTime RBI based on listing activity in the MRIS, this is the 19th month in a row of year-over-year increases in closed sales. Median sales price set a decade high, at $446,000 -- up 1.6 percent since June 2015 and 3.7 percent since the previous month. Buyers paid 98.1 percent of the original list price on average, which is up only slightly (0.1 percent) year-over-year. A June inventory of 11,301 presents the second month...