cooldcre: DC Metro Area Real Estate Market Update 2015

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DC Metro Area Real Estate Market Update 2015

DCMA Real Estate Market

DC Metro Area Real Estate Market Update 2015

January 2015 up in pricing, closed sales and new contracts from 2014

DCMA MARKET OVERVIEW JANUARY 2015

The DC Metro Area real estate market started stronger than Washington DC’s market thanks to higher inventory levels.

January 2015 results show increases in sales, prices, new contracts and inventories over January 2014. Closed sales rose by 4.5% from the start of 2014, and all property segments increased YoY.  Only single-family detached prices stagnated at $450k, while townhomes and condos tweaked up by 1.4% and 4.7% respectively.

The highlights:

  • New contracts spiked 6.2% from January 2014, the highest January-level since 2011 at 3,720 (slightly above the five-year average of 3,715) and above the ten-year average of 3,516.
  • Inventories jumped a solid 18% above January 2014 levels, with all categories seeing double-digit increases, but still slightly under the five-year trend of 12,635.
  • Average DOM (Days On Market) climbed to 10 days, but remain below the 5 year January level of 70 days.
  • Pending sales increased by 6%.

DCMA full market report for January 2015

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Comment balloon 1 commentThe Isaacs Team llc • February 10 2015 08:20AM

Comments

Thanks for the DC Metro Area Market Update.

Posted by Brian Wiseman LL.B. CIPS, The WiseMan of Real Estate over 3 years ago

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