Tagged : housing prices RSS Feed

Following trends for much of the year, housing inventory remained tight in August in Washington D.C. as the housing market here continues to make significant strides toward recovery.

Last month, the average number of days a home was on the market dropped 30% from a year prior, according to the Greater Capital Area Association of Realtors. It means this strong sellers’ market shows no signs of abating in favor of buyers any time soon.

Housing inventory in Washington D.C. started to loosen from March to June this year, but supplies have been shrinking the past few months through August to significant lows. Available condo inventory dropped 20.8% in August and single-family home inventory dropped 5.4%.

And while inventory is tight and moving quickly…

D.C. housing prices, it’s no surprise, have been increasingly sharply in recent years. But recently D.C. housing prices have marked record territory in median sales price of nearly $500,000 in May, with homes selling exceptionally quickly.

The average time a home in D.C. was on the market nine days lately, about twice as fast as they sold a year ago, according to the RealEstate Business Intelligence.  Homes were on the market an average of 11 days in April and 15 days in March, even with 20% more listings than a year ago, although listings are still slim.

The average home prices rose 8.9% in May from a year prior to $490,000, the highest of D.C. housing prices recorded in May. That’s more than $30,000 higher than in May last year and $70,000 in May…

Housing price growth in the DC Metro region reached a double-digit percentage increase in December 2012 compared with a year prior, though month-to-month price trends declined a bit, according to data from Real Estate Business Intelligence.

In December 2012, the median housing price of a sold home was $359,000, up 10.5% from December 2011, but down 3.0% from November 2012, when the average median sales housing price in D.C. Metro was $370,000. The number of homes sold in D.C. Metro in December – 3,323 units – also increased year-over-year by 4.9% but declined 6.6% from November.

The housing price growth in D.C. Metro included all housing types: the median price rose 12.9% year-over year for a single-family home, 10.4%for a condo and 8.3% for a…