March 2016 DC Metro Area Housing Stats

Summary: Volume of sales has increased dramatically month-over-month throughout the region as the Spring market is in full swing. Most of the region has enjoyed steady price increases since last year despite increased inventory.

Highlights

1) The entire region has seen large increases in sales month-over-month. Baltimore and DC has increased year-over-year as well while the rest of the region is comparable to last year.

2) Most of the region has experienced an annual price increase of 1-4% except for the MD suburbs of DC which are down slightly

3) In general, the median days on market is comparable to this time last year.

4) The entire region has seen significant increases in inventory as compared to March last year.

March 2016 statistics

MD suburbs of DC

- Volume = Total Sales are up 20.3% Month-over-Month (MoM) and down 2% Year-over-Year (YoY)

- Price = Median price is down 1.3% and average is down 3.2% YoY

- Time = Median days on market is 37 days (vs 33 days in March 2015)

- New Listings = New listings are up 8.4% YoY

Washington, DC

- Volume = Total Sales are up 37.6% MoM and up 17.1% YoY

- Price = Median price is up 1.1% and average price is up 4.5% YoY

- Time = Median days on market is 14 days (vs 13 days in March 2015)

- New Listings = New listings are up 18% YoY

NoVA

- Volume = Total Sales are up 38.8% MoM and up 0.1% YoY

- Price = Median price is up 1.1% and average price is down 0.3% YoY

- Time = Median days on market is 28 days (vs 29 days in March 2015)

- New Listings = New listings are up 3.8% YoY

Baltimore Metro

- Volume = Total Sales are up 33.9% MoM and up 13.5% YoY

- Price = Median price is up 3.2% and average price is up 2.1% YoY

- Time = Median days on market is 63 days (vs 66 days in March 2015)

- New Listings = New listings are up 10.9% YoY