The Long & Foster Market Minute

Focus On: Washington DC Housing Market September 2018

Units Sold
603
Active Inventory
1,797
Median Sale Price
$522,135
Days On Market
31
Down -5%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 3%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 603 sold this month in Washington DC Real Estate versus 856 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 5% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 124 units or 6%. The total number of active inventory this September was 1,797 compared to 1,921 in September 2017. This month's total of 1,797 is higher than the previous month's total supply of available inventory of 1,584, an increase of 13%.

Median Sale Price
Last September, the median sale price for Washington DC Homes was $508,575. This September, the median sale price was $522,135, an increase of 3% or $13,560 compared to last year. The current median sold price is 7% lower than in August.

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


New Listings
1,445
Current Contracts
789
Sold Vs. List Price
99.3%
Months of Supply
3.0
No Change
Vs. Year Ago
Down -3%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In September, there was 3.0 months of supply available in Washington DC. The amount of supply is similar compared to 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.

New Listings & Current Contracts
This month there were 1,445 homes newly listed for sale in Washington DC, which is similar to the amount in September 2017. There were 789 current contracts pending sale this September compared to 811 a year ago. The number of current contracts is 3% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Washington DC was 99.3% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 31, higher than the average last year, which was 30, an increase of 3%.

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.