What's Hot: Renderings Revealed for 337-Unit Brookland Bowling Alley Conversion | Dan Snyder's Potomac Home Hits the Market for $49 Million
Homes in DC Area Selling At Fastest Rate in 8 Years

A report out Friday only reiterated what many in the DC area housing market already know: it is a very good time to be a home seller and a frustrating time to be a buyer.
The April report published by RealEstate Business Intelligence revealed that homes for sale in the DC area are spending a mere 11 days (median) on the market before finding a buyer, the lowest level for any month since 2005.
But that is just one of several statistics that is pushing the needle very much in favor of the home seller. The average sale-to-original list price ratio is now at 98.2 percent, notably higher than the five-year average (94.8%) and a clear indication of the many bidding wars that are currently happening in the region.
Prices also continue to hit new records. The median price for the DC area reached its highest point for the month of April in six years ($400,000). In DC proper, the median price hit $470,000, a new record for the city. At $560,000, Arlington County also is at an all-time high.
Even the seemingly good news from the report on the inventory front just illustrated how fast homes are moving. There were 7,238 new listings in April, an increase of 15.3 percent from April 2012, and the sharpest gain in 3 years. But the fact that the number of new listings was higher than the number of active listings for the month was telling.
“The new listings count includes any home that entered the market during the month, including those that may have gone to contract and potentially even to settlement before month’s end,” RBI’s Corey Hart told UrbanTurf. “Active listings is the count of all listings at month’s end that remain in active status. So, the fact that the new listings number was higher than the active listing number at month’s end just shows how quickly new listings are being snatched up.”
See other articles related to: dc home prices, dc housing inventory, realestate business intelligence
This article originally published at https://dc.urbanturf.com/articles/blog/homes_in_dc_area_selling_at_fastest_rate_in_8_years/7049.
Most Popular... This Week • Last 30 Days • Ever

When Johnsie Walsh rented a unit in her Stanton Park apartment building, she had no i... read »

The 30,000 square-foot home has been privately offered for sale since 2018.... read »

DC's Office of Planning recently looked at DC's migration patterns in 2022. Today, Ur... read »

The residential conversion at a former bowling alley in DC is moving forward, and new... read »

When interest rates doubled in the second half of 2022, activity in the regional hous... read »
- Obama, The Tenant: A Chat With The President's DC Landlord
- Dan Snyder's Potomac Home to Publicly Hit the Market for $49 Million
- In and Out: DC's Migration Patterns in 2022, By the Numbers
- Renderings Revealed for 337-Unit Brookland Bowling Alley Conversion
- 200 People At An Open House? As Interest Rates Drop, Homebuyers Return
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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro