2013 DC Real Estate Market Summary
Cumulative 2013 Sales Rose 9.3% from the previous year in the DCMA
Thumbing its nose at shutdowns, Fed announcements and sequestration, 2013′s DC Metro Area housing market soared past milestones set in 2012. Sellers were the big winners in DCMA's 2013 market. Here's the data:
- Total sales in the region rose 9.3% and Median Sales Price increased 9.6%. Every jurisdiction saw growth for in that category.
- During the month of December, Closed Sales increased 9.7% from December 2012 and spiked 18.8% from November 2013. That’s a wild swing, especially as November Closed Sales ten-year average month-over-month change is 5.75! That’s three times the 10-year average November-to-December change and the 3,664 closed sales represented the highest December total since 2006. Pent up loan applications from stalled transactions during the shutdown may be responsible for much of this.
- Condo properties showed the best performance for Closed Sales, rising 12.9% from December 2012
- Townhomes sales and single-family detached home Closed Sales increased 10.4% and 7.5%, respectively.
- For the third consecutive month, active listings increased from 2012 in December, gaining across all property segments except single family detached homes.
- Supply remains low at 26.8% of 2008 peak level.
- New listings increased 4.1% from 2012, the ninth consecutive month of increases for this indicator.
- Median sale price rose 9.0% compared to December 2012, the 23rd consecutive month of year-over-year increases.
Read the full story at Metrohagents.com