Home | Newsletter | Advertise

DC Area Sees Highest Home Sales Volume in Almost a Decade

  • July 10th 2015

by Tianna Mañón

✉️ Want to forward this article? Click here.

DC Area Sees Highest Home Sales Volume in Almost a Decade: Figure 1
A home that recently sold on Capitol Hill.

The regional housing market is only growing stronger, according to a report released Friday by the real estate data firm RealEstate Business Intelligence (RBI).

June had the most home sales for the month in almost a decade and the most pending sales since June 2005, the report found. There were a total of 5,652 closed sales last month, a 13 percent increase from June 2014. The number of new contracts also rose. An 11.6 percent jump brought the total to 5,755.

Median prices also increased to $439,000 in June, almost setting a new monthly record. This is a 1.4 percent increase from June 2014 and is just $1,000 short of the record median price seen in June 2007 and June 2013.

DC Area Sees Highest Home Sales Volume in Almost a Decade: Figure 2
A look at June median sales prices over nine years.

The median sales price for condos rose 4.2 percent and also had the largest increase in inventory of any property type, rising 19 percent to 3,157 active listings. The inventory for single-family homes also grew 11.5 percent to a total of 6,942 listings. Overall, there were 12,341 listings on the market last month, an 11.5 percent increase from last year.

DC Area Sees Highest Home Sales Volume in Almost a Decade: Figure 3
Click to enlarge.

Perhaps the most telling statistics from the report focused on how quickly homes are selling. Half of the homes sold last month were on the market for 15 days or less. In Falls Church and the District, listings are selling even faster, with a median days on market of eight and nine days, respectively.

This article originally published at https://dc.urbanturf.com/articles/blog/dc_metro_sees_highest_home_sales_volume_decade/10102.

Pipeline: New Condos & Apartments Coming to the DC Area

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse