Metro DC Inventory Remains Historically Low

February 2019 Update:  Low levels pushing prices for D.C. Metro areas to record February highs. Sales continue to slow.

DC Metro February home sales and median prices

  • The February 2019 Washington D.C. Metro area median home price of $427,000 was up 4.1% or $17,000 from last year and marked the 29th consecutive month of year-over-year price increases.
  • Sales volume across the DC Metro area was nearly $1.5 billion, down 2.2% from last year.
  • Closed sales declined for the seventh month in a row to 2,870, a 5.7% decrease compared to last year.
  • New pending sales compared to last year were also down, by 1.6% to 4,377.
  • New listings compared to last February were down by 7.3% to 4,918.
  • Active listings were down 3.1% compared to last year to 6,293. While single-family inventories have grown for the last five months, condo inventories have declined for that same period and townhome inventories have fluctuated but are mostly up.
  • The average percent of original list price received at sale was 97.7%, matching last year’s record February level.

For a more detailed analysis, Click here to access the full PDF version of this report. This report of the Washington, D.C. Metro Area housing markets has been prepared by Elliot Eisenberg, Ph.D. of MarketStats by ShowingTime and is based on February 2019 Bright MLS housing data.

Adapted from BrightMLS News, 12 March 2019, by MEGHAN DEVINE