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November DC Metro Real Estate Market Report
MRIS, the nation’s largest Multiple Listing Service, has released their latest data for the Washington D.C. Metro region. For November, the residential real estate market saw an amazing increase in the number of sales. Prices remained steady overall for the month; a good indication the market is pricing well for the demand. If you are planning to sell, this could be a great time to list your property considering that the data points to a solid seller’s market.
The number of closed sales in November, 2016 is higher for the month than has been reported in the last 11 years, with 3,899 closed sales filed. This is also up an incredible 16.5% from a year ago. Most homes in the Washington D.C. Metro region are also selling for close to their list price. Last month, 97.2% of the sales sold at or above their listed market price. Homes are also selling quickly, the average Days on the Market in November was 23, two days quicker than homes listed a year ago.
 
Median sales prices also increased in November, compared to the year prior. In looking at specific types of sales, single family homes were the key reason median sale prices rose, being ... more

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