The following analyses of the Washington, D.C. and Baltimore Metro Area housing markets have been prepared by Elliot Eisenberg, Ph.D. of ShowingTime RealEstate Business Intelligence (RBI) and are based on June 2016 MRIS housing data.
DC Metro Overview
June 2016’s median sales price of $446,000 established a new high for the D.C. Metro area. Prices were up 1.6% ($7,000) compared to last year and up 3.7% ($16,000) compared to last month.
Sales volume across the DC Metro area was more than $3.2 billion, up 7.9% from last June and up 14.1% from last month.
June closed sales of 5,938 were up 5.1% compared to last year and were at the highest monthly level since June 2006. This is the 19th consecutive month of Y-o-Y increases in closed sales.
New contracts increased by 3.9% to 5,979, a new June record.
New listings of 7,502 were up 3.3% year-over-year and up 0.9% compared to last month.
Active inventories of 11,301 were down 8.4% from last year but up 2.1% from last month. This is the second consecutive month of declines in year-over-year inventory levels.
The average percent of original list price received at sale in June was 98.1%, up from last year’s 98.0% but down from last month’s 98.3%.
The median days-on-market for June 2016 was 14 days, down one day from last year and up one day from last month.