Market Update

The Washington D.C. Metro median sales price of $460,000 was up 7.0% or $30,000 compared to last year. This represents the all-time high for any month on record, topping the previous high of $446,000 reached in June 2016.

Sales volume across the DC Metro area was over $3.1 billion, up 9.7% from last May.
Closed sales of 5,620 were up 3.5% compared to last year and set a May high for the decade.
New contract activity of 6,668 was 4.4% above last year’s May record of 6,385.
New listings of 8,085 were up 8.7% compared to last year and up 5.5% compared to last month.
Active listings of 9,865 are down 10.9% compared to last year, but are up 3.3% compared to last month. This is the thirteenth consecutive month of declines in year-over-year inventory levels, and inventories are at the lowest May level since 2013.
The average percent of original list price received at sale in May was 98.8%, up from lasy year’s 98.3% and from last month’s 98.7%. This was the highest May level of the decade.
The median days-on-market for May 2017 was 10 days, 3 days lower than last year.

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