What's Hot: The 4 Projects in the Works (Or on Hold) Near DC's Starburst Intersection | This Week's Find: Fit For Art in the Palisades
DC Area Home Prices Reach Highest February Level Since 2007
A DC home that sold in February.
February was a good month for the housing market in the DC area, according to a report from RealEstate Business Intelligence released Tuesday morning.
The month saw year-over-year increases in closed home sales and new contracts, as home prices reached their highest February level — $390,000 — since 2007. The District saw the largest flurry of activity during the month, RBI reported, with the shortest sales times. Homes within DC proper sold in a median of 20 days, and home prices rose to $499,500, a 6.8 percent increase over last year. February also marked the first time since October 2013 that closed sales were up three months in a row for the region.
“There were a total of 2,608 sales, the best February in two years and consistent with the general market improvement displayed over the last three years,” the report notes. Townhomes showed the biggest growth, with sales heading up 12.8 percent over last year.
There were 8,175 active listings on the market in the region at the end of February, a 16.6 percent increase over February 2014. However, inventories remain well below the ten-year average of 12,900, and as we wrote in an article from a few weeks ago, the area inventory doesn’t look primed to increase anytime soon.
See other articles related to: dc home and condo prices, dc home prices, dc home sales, dc housing inventory, dc housing prices, rbi, realestate business intelligence
This article originally published at https://dc.urbanturf.com/articles/blog/dc_area_home_prices_reach_highest_february_level_since_2007/9622.
Most Popular... This Week • Last 30 Days • Ever
Our guide for amateur landlords who don't really know what they're doing.... read »
The Massachusetts Avenue Heights home was previously owned by the former chief execut... read »
A large new apartment and townhouse project has been pitched for the growing pipeline... read »
On Friday, Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Ec... read »
In this week's Under Contract, we highlight two homes that found buyers just shortly ... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
The residential projects that have sprouted up on the Maryland and DC sides of the Fr... read »
With a groundbreaking ceremony on Wednesday, the redevelopment of the Georgetown Wes... read »
The immaculately kept 100-year-old house features six bedrooms and four-and-a-half ba... read »
Ten years later, plans to construct nearly 150 townhomes at DC's most hotly debated d... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
- The Essential Guide to Being an Amateur Landlord in DC
- Washington Spirit Owner Michele Kang Lists DC Home for $14.5 Million
- A Two-Phase, 370-Unit Development Pitched For Columbia Pike Gas Station Site
- Apartments, A Plaza + Dave Chapelle: The Future Plans for 14th and U
- Under Contract: That Didn't Take Long
- First-Timer Primer: Virginia's Home Buyer Assistance Programs
- Mall Conversions, Trader Joes? The 1,500 Units in the Friendship Heights Pipeline
- The Four Seasons Private Residences in Georgetown Break Ground
- Now Selling: A 16th Street Heights Victorian on an Island of Its Own
- Reservoir District: 146 Townhomes Planned at McMillan Site Look For Final Design Approval
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro