2015 Year End Metro DC Housing Market Review

DC Metro home sales reached highest level since 2006.

~ Closed sales up 9 percent annually; Prices gain only 1 percent for second straight year, remain 24 percent higher than 2009’s bottom levels 2015’s median sales price ended up at $410,000, marking only a 1.1 percent gain from 2014.
Despite flat growth, prices are only 1.2 percent down from 2007’s peak levels.

~ Sales in 2015 were very strong, with year-over-year gains seen in every single month. Ultimately, the 50,528 cumulative sales marked a 9.4 percent increase over 2014.

~ Seller activity picked up consistently through the year and the 73,733 cumulative listings added over the course of 2015 were 8.5 percent more than the number added in 2014.

~ After rising to a peak year-over-year increase of 34.6 percent in August 2014, inventory growth has steadily declined in 2015, ending the year at 8,644 listings, which is only 4.6 percent higher than at the end of 2014.  Inventory growth will likely be negative in 2016.

~ Half the homes sold in 2015 were on the market 22 days or less, a two-day increase compared to 2014, but remaining well below both the 5 and 10-year averages.

~ The average percent of original list price received at sale has remained relatively steady over the last several years, dropping only slightly in 2015 to 97.3 percent.

Click here for more detailed information.

 

 

 

~ DC Metro Price and Sales Since 2006


Leave a Reply

Your email address will not be published. Required fields are marked *