January 2014 DC Median Sold Price Up 11.64% YoY

In spite of icy temperatures, low inventory continued to put upward pressure on pricing. The January 2014 DC Median Sold Price rose 11.64% from a year ago from $421,000. to $470,000. The five-year average for DC Median Sold Price is $396,140.

More DC Real Estate Market Data

DC Real Estate Market Data JAN2014

Breaking Down the Data

Closed Sales January 2014 DC Real Estate
Closed sales rose 6.9% YoY at 462 from January 2013’s number of 432, both well above the five-year average of 409 units.

DC real estate market data Districtre,com

Active Listings January 2014 DC Real Estate Market

Active Listings for January numbered 1,018,  an increase of 52 listings from the same time last year. The five-year average for Active Listings in January is 1,624.

Average Days On Market

Average DOM for January 2013 was 53 Days, down from Jan. 2013’s average of 65 and well below the five year average of 7 3 Days.

Average Sold To List Price Ratio

In January 2014, the Average Sold To List Price Ratio (SLPR) was 97.1%, up from January 2013’s 96.4% and above the five-year average of 94.5%.


New Listings January 2014 DC Real Estate

New listings in the District of Columbia rose 3.0% at 686 units over January 2013’s 666 listings, still down from the  five-year listing January average of 726 new listings.

How did your neighborhood fare? See DC Real Estate Market Data by Neighborhood.

WASHINGTON DC METRO AREA

DC Metro Real Estate Market Jan2014

The DC Metro Area saw its highest January-median price since 2008. Single-family detached homes led the increase. Median sales price in DCMA rose 7.8%, or $26,800, from Jan. 2013 to $370,000. This is the 24th consecutive YoY increase in median sales price and the highest January-level in six years. At $450,000, the median sales price for single-family detached homes was up 12.4%, or $49,500 higher, leading all property segments in median sales price growth. MSP for townhomes in the region increased 8.8%, or $29,950, from January 2014 and MSP for condominiums rose 7.3%, a gain of $19k from January 2013.

Fairfax City had the highest growth in MSP, up 16.5% from January 2013. Prince George’s County rose 16.1% and Falls Church City saw a 36.3% drop in MSP, however only 6 sales were recorded so the decline is not as dramatic as the number would first appear.

Active listings in the DC Metro Area increased 11.5%, or 696 listings YoY to 6,745., but are a whopping 74.0% lower than their September 2007 peak. For the first time in two years, every property segment had more listings than in the prior year. Active listings for condo properties had the most dramatic increase at 27.6%, or 390 listings. Active listings for townhomes rose 25.0%, or 245 listings. There were 3,710 single-family detached home listings, 1.8%, or 64 listings, more than January 2013. This is the fourth consecutive year-over year increase for both townhomes and condos and the first increase for single-family detached homes.

Gains in new listings have contributed to the increase in active listings, but their pace of growth has slowed. There were 4,071 new listings in January, representing an increase of 1.7 % over 2013. This is the tenth consecutive month of year-over-year growth for this indicator. Condo properties led all property segments in new listing growth, increasing 5.8% from last January. New listings of townhomes increased 4.0%. New listings for single-family detached homes declined 1.7% from this time last year–the only property segment to drop. At 32 days, Median Days On Market was unchanged from last year and remains lower than its 10-year average January-level of 50 days.

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