The Long & Foster Market Minute

Focus On: Washington DC Housing Market April 2019

Units Sold
893
Active Inventory
1,473
Median Sale Price
$590,000
Days On Market
37
Up 15%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 32%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 893 sold this month in Washington DC Real Estate versus 751 last month, an increase of 19%. This month's total units sold was higher than at this time last year, an increase of 15% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 107 units or 7%. The total number of active inventory this April was 1,473 compared to 1,580 in April 2018. This month's total of 1,473 is lower than the previous month's total supply of available inventory of 1,522, a decrease of 3%.

Median Sale Price
Last April, the median sale price for Washington DC Homes was $590,000. This April, the median sale price was $590,000, which is similar compared to a year ago. The current median sold price is 4% higher than in March.

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


New Listings
1,397
Current Contracts
1,052
Sold Vs. List Price
100.4%
Months of Supply
1.6
Up 6%
Vs. Year Ago
Up 12%
Vs. Year Ago
No Change
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In April, there was 1.6 months of supply available in Washington DC, compared to 2.0 in April 2018. That is a decrease of 19% 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 1,397 homes newly listed for sale in Washington DC compared to 1,321 in April 2018, an increase of 6%. There were 1,052 current contracts pending sale this April compared to 936 a year ago. The number of current contracts is 12% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Washington DC was 100.4% 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 37, higher than the average last year, which was 28, an increase of 32%.

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.