Washington, DC
The average number of days on market was down 29.4% compared to October 2012. The median price for condos was up 6.6%, and single-family homes saw an 14.9% increase. Condo inventory remained less than last year with 3.3% fewer listings, but single-family listings increased slightly, 4.3%. Condo contracts rose 23.5%, and condo settlement activity saw a 17.8% increase over 2012. Single-family contracts rose 12.6%, while single-family settlements enjoyed a robust increase of 34.3% over October 2012.
Montgomery County
The average number of days on market was down 22% from October 2012. Median condo prices saw a 5% increase, with the price of single-family homes increasing by 8.1%. The amount of available inventory increased for condos and single-family homes - 22.5% and 8.2% respectively - compared to October 2012. Condo contracts saw a 22.5% rise in October, and the number of new single-family contracts also increased by 9.2%. Condo settlements increased significantly in October, with a 45% gain, while single-family settlements saw a 20% increase.
District of Columbia |
October 2013
|
October 2012
|
Change
|
Average Days on Market: Condo &
Single-Family Homes |
36
|
51
|
-29.41
|
Condo Median Price
|
$405,000
|
$380,000
|
6.6%
|
Condo Total Active Listings
|
684
|
707
|
-3.3%
|
New Condo Contracts This Month
|
373
|
302
|
23.5%
|
Condo Settlements This Month
|
305
|
259
|
17.8%
|
Condo Absorption Rate (Total Active Listings /New Contracts)
|
1.83
|
2.34
|
-21.8%
|
Single-Family Median Price
|
$599,950
|
$522,000
|
14.9%
|
Single-Family Total Active Listings
|
710
|
681
|
+4.3%
|
New Single-Family Contracts This Month
|
447
|
397
|
12.6%
|
Single-Family Settlements This Month
|
360
|
268
|
34.3%
|
Single-Family Absorption Rate (Total Active Listings /New Contracts)
|
1.59
|
1.72
|
-7.6%
|
Montgomery County
|
October 2013
|
October 2012
|
Change
|
Average Days on Market: Condo &
Single-Family Homes |
46
|
59
|
-22.03
|
Condo Median Price
|
$219,900
|
$209,500
| 5.0% |
Condo Total Active Listings
|
500
|
408
|
+22.5%
|
New Condo Contracts This Month
|
267
|
218
|
22.5%
|
Condo Settlements This Month
|
248
|
171
|
45.0%
|
Condo Absorption Rate (Total Active Listings /New Contracts)
|
1.87
|
1.87
|
0%
|
Single-Family Median Price
|
$462,000
|
$427,500
|
8.1%
|
Single-Family Total Active Listings
|
1971
|
1821
| +8.2% |
New Single-Family Contracts This Month
|
795
|
728
|
9.2%
|
Single-Family Settlements This Month
|
667
|
556
|
20%
|
Single-Family Absorption Rate (Total Active Listings /New Contracts)
|
2.48
|
2.50
|
-0.8%
|
Source: Greater Capital Area Association of Realtors
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