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April 2017 Housing Update: Low inventories in D.C.

The following analyses of the Washington, D.C. and Baltimore Metro Area housing markets have been prepared by Elliot Eisenberg, Ph.D. of ShowingTime and are based on April 2017 MRIS housing data.

DC Metro Area - Overview

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DC Metro Area - Overview

  • April 2017's median sales price of $436,500 was up 4.1% or $17,250 compared to last year. This is the highest April median sales price of the last decade, easily exceeding last year's record of $419,250.
  • Sales volume across the DC Metro area was over $2.5 billion, up 1.7% from last April.
  • Close sales of 4,598 were down 1.7% compared to last year but were up 3.3% from last month.
  • New contract activity of 6,097 declined 8.3% compared to last year.
  • New listings of 7,664 were down 13.0% compared to last year and down 6.7% compared to last month.
  • Active listings of 9,552 are down 14.0% compared to last year, but are up 10.5% compared to last month. This is the twelfth consecutive month of declines in year-over-year inventory levels, and inventories are at the lowest April level since 2014.
  • The average percent of original list price received at sale in April was 98.7%, up from last year's 98.0%, and also up from last month's 97.9%.
  • The median days-on-market for April 2017 was 10 days, 4 days lower than last