Washington DC Metro Area October Housing Stats

The real estate market continues to show signs of strength as prices and volume have generally increased since this time last year. It will be interesting to see what the Fed decides to do with interest rates following their Dec 16th meeting as the vast majority analysts predict a rate increase for the first time in 7 years. 

Summary: DC continues to remain a bullish market. MD Suburbs and NoVA have also enjoyed price increases but the increased inventory has extended days on market indicating a potential leveling off. Baltimore metro’s prices and days on market have remained relatively flat.

Highlights

1) Most of the region (except DC) has seen an increase in sales since last year. However, volume has decreased in many parts since the previous month with the standard seasonal trend, but DC and the Baltimore metro area have seen a slight increase.

2) Median prices have increased 1-3% in most of the region, except for Baltimore metro which has seen a slight drop.

3) MD Suburbs and NoVA have seen extended days on market since last year while DC and Baltimore metro have seen slight decreases in days on market.

4) There are significantly more homes for sale throughout MD and NoVA. DC has seen a more modest increase.

October 2015 statistics

MD suburbs of DC

- Volume = Total Sales are down 12.6% Month-over-Month (MoM) and up 4.2% Year-over-Year (YoY)

- Price = Median price is up 3% and average is down 3.7% YoY

- Time = Median days on market is 32 days (vs 27 days in October 2014)

- New Listings = New listings are up 8.6% YoY

Washington, DC

- Volume = Total Sales are up 1.7% MoM and down 7.9% YoY

- Price = Median price is up 2.8% and average price is up 6.2% YoY

- Time = Median days on market is 11 days (vs 12 days in October 2014)

- New Listings = New listings are up 3.8% YoY

NoVA

- Volume = Total Sales are down 8% MoM and up 5.3% YoY

- Price = Median price is up 1.3% and average price is up 3% YoY

- Time = Median days on market is 36 days (vs 33 days in October 2014)

- New Listings = New listings are up 7.8% YoY

Baltimore Metro

- Volume = Total Sales are up 2.3% MoM and up 16.3% YoY

- Price = Median price is down 1.7% and average price is up 0.5% YoY

- Time = Median days on market is 47 days (vs 50 days in October 2014)

- New Listings = New listings are up 8.3% YoY