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NEW Washington DC METRO RE Market Report
 
NEW Washington DC METRO RE Market Report
12-10-12 Statistics for November 2012
Year End Washington DC RE Market Report 2012 DC Real Estate
DC Metro November Sales Up 21.5% Over Last Year; Prices up 10.5%
POSTED ON DECEMBER 10, 2012 BY COREY HART
Demand for Townhomes Still Strong -  Median Sales Price Jumps Over 50K

DC METRO AREA
The surge in new contract activity last month translated into a rise in sales for November. Sales are higher than last year, but new contracts are down slightly compared to November 2011. This could be an early indication of tempered demand in the market. The inventory of homes for sale continues to shrink, and new listings remain at their lowest level in over a decade. The low supply is putting upward pressure on median sales prices around the region. Price gains have been most pronounced in the townhome segment, which has led in year-over-year growth for 3 consecutive months. Townhomes also lead all segments in sales growth, and active inventory declines, which indicates strong demand for these properties. As the year-end approaches, the market tends to slow down, which will likely equate to an even lower supply of homes for sale ... more

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