The Long & Foster Market Minute

Focus On: Washington DC Housing Market January 2019

Units Sold
535
Active Inventory
1,365
Median Sale Price
$533,000
Days On Market
54
Down -7%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 2%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 535 sold this month in Washington DC Real Estate versus 678 last month, a decrease of 21%. This month's total units sold was lower than at this time last year, a decrease of 7% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 81 units or 6%. The total number of active inventory this January was 1,365 compared to 1,284 in January 2018. This month's total of 1,365 is lower than the previous month's total supply of available inventory of 1,692, a decrease of 19%.

Median Sale Price
Last January, the median sale price for Washington DC Homes was $497,500. This January, the median sale price was $533,000, an increase of 7% or $35,500 compared to last year. The current median sold price is 8% lower than in December.

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


New Listings
899
Current Contracts
650
Sold Vs. List Price
98.8%
Months of Supply
2.6
Up 7%
Vs. Year Ago
Down -1%
Vs. Year Ago
No Change
Vs. Year Ago
Up 14%
Vs. Year Ago

Months of Supply
In January, there was 2.6 months of supply available in Washington DC, compared to 2.2 in January 2018. That is an increase of 14% 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.

New Listings & Current Contracts
This month there were 899 homes newly listed for sale in Washington DC compared to 840 in January 2018, an increase of 7%. There were 650 current contracts pending sale this January compared to 657 a year ago. The number of current contracts is 1% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Washington DC was 98.8% 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 54, higher than the average last year, which was 53, an increase of 2%.

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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.