What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
DC-Area Home Prices Hit Record in November as DC Proper Prices Remain Flat
A Logan Circle condo that sold in November.
The DC housing market has been bucking regionwide trends during the latter half of 2017, particularly in the realm of home prices which dropped in the city for four consecutive months over the summer as area prices hit record highs. A new report out Monday shows that home values in DC hit the brakes in November as regional prices continued to set records.
According to the latest report from Bright MLS, the median home price for DC proper was flat year-over-year at $549,000 in November. Meanwhile, the median home sales price regionwide hit a decade high for the month of November, increasing by 4.4 percent to $425,000. Last month, DC proper was the only jurisdiction in the area where prices did not rise.
story continues below
loading...story continues above
Total inventory in November regionwide
November marked the 14th consecutive month where prices in the DC area increased year-over-year, and it was the 19th month in a row where inventory fell on an annual basis.
In the continued theme of DC doing the opposite of the rest of the region, inventory rose in DC last month with active listings jumping 7.5 percent year-over-year. This increase comes despite there being nearly six percent more closed sales in the city than in November 2016, and as homes are spending just 9 days on the market, on median.
See other articles related to: bright mls, dc area market trends, dc home and condo prices, dc home prices, dc home sales, dc housing inventory, rbi
This article originally published at https://dc.urbanturf.com/articles/blog/dc_area_home_prices_hit_record_in_november_as_dc_proper_prices/13349.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
In a sought-after Petworth location—steps from the Petworth farmers market, the Pet... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
- Just 10 Residences, From the Low $300s, Debut in the Heart of Petworth
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro