The Long & Foster Market Minute

Focus On: Washington DC Housing Market November 2017

Units Sold
718
Active Inventory
1,590
Median Sale Price
$547,000
Days On Market
26
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 5%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 718 sold this month in Washington DC Real Estate versus 862 last month, a decrease of 17%. This month's total units sold was higher than at this time last year, an increase of 5% versus November 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 112 units or 7%. The total number of active inventory this November was 1,590 compared to 1,702 in November 2016. This month's total of 1,590 is lower than the previous month's total supply of available inventory of 1,850, a decrease of 14%.

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Median Sale Price
Last November, the median sale price for Washington DC Homes was $549,000. This November, the median sale price was $547,000, which is similar compared to a year ago. The current median sold price is 1% lower than in October.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
894
Current Contracts
728
Sold Vs. List Price
99.8%
Months of Supply
2.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 5%
Vs. Year Ago
Up 22%
Vs. Year Ago
No Change
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In November, there was 2.2 months of supply available in Washington DC, compared to 2.5 in November 2016. That is a decrease of 11% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 894 homes newly listed for sale in Washington DC compared to 849 in November 2016, an increase of 5%. There were 728 current contracts pending sale this November compared to 595 a year ago. The number of current contracts is 22% higher than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Washington DC was 99.8% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 28, a decrease of 7%.

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The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.