NEW Washington DC METRO RE Market Report

Real Estate Agent Licensed in DC & VA

DC real estate 

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%


Demand for Townhomes Still Strong -  Median Sales Price Jumps Over 50K


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 in the coming months. Buyer demand has been consistent, but seller participation in the market remains low. This is due to both economic uncertainty and potential equity losses in many areas. With the Federal Reserve’s September announcement of continued low interest rates through 2015, it is feasible that many buyers will wait it out until more options become available in the market. This could mean slower sales and stable prices in the near-term.

Washington DC METRO RE Market Report CLOSED SALES


An unusual spike in sales during November (but what isn't unusual about DC's real estate market?) for all property segments, with townhomes leading growth.  There were 3,556 sales in November in the Washington DC Metro Area, a 21.5% jump from this time last year, the highest year-over-year increase since May 2010!

Sales typically fall between October and November in the region, but the surge in new contracts during October caused overall sales numbers to rise 8.8% from October this year.

Similar month-over-month gains are seen in all property segments:

  • Townhomesup 31.4% from last November
  • Condos and single-family homes rose 22.0% and 16.2% respectively

All property segments had their highest November sales in 3 years.


Median sales price continues to rise late in the year.

  • Townhomes see highest price gains since 2005
  • At $370,000, the median home price in the DC Metro Area is 10.4% higher than this time last year, and the highest November median in 5 years.
  • Inventory of active listings continues to diminish while demand remains strong.

These trends are pushing the median sales price up in most parts of the region.

  • Falls Church City leads all jurisdictions with a 40.7% gain from last November, however medians there tend to be volatile due to the low quantity of homes sold.
  • All other jurisdictions within the DC Metro region experienced median price gains with the exception of Alexandria City, which fell 3.5% from this time last year.
  • Townhomes had the sharpest median sales price growth of all property segments, up 16.9% from November 2011, an increase of $54,000. This is the highest year-over-year gain for townhomes in 7 years.
  • Median sales price for condos rose 10.7%t from this time last year
  • Prices for single-family homes rose 10.0 percent.


New contracts fall in line with seasonal patterns, though slightly lower than November 2011. There were 3,732 new contracts signed in November in the DC Metro region, down 1.3 percent from this time last year, and a drop of 16.3 percent from last month. New contract activity typically falls between October and November. The 10-year average monthly decline for November is -13.2 percent. All property segments had a slight decline in new contracts from last November, with the exception of condos, which remained about the same. The unseasonable rise in new contracts last month could have muted the numbers this month as many buyers may have purchased earlier than planned. It could also be reflective of the low inventory of homes for sale. Buyers have fewer options, so many could be waiting it out.


Active listings drop below 8,000 for the first time since June 2005; new listings remain the lowest in over a decade. There were 7,830 active listings in the DC Metro Area at the end of November, 37.8 percent lower than this time last year. The inventory of active listings is now about one third of its peak, which was over 25,000 in the fall of 2007. All property segments continue to see inventory absorption, with active listings down over 40 percent across the board from last November. Townhome listings represent only 17.1 percent of all active listings, the lowest proportion on record with data available back to 1997. New listings are following a similar pattern, though the declines are not as dramatic. The 3,428 new listings are 7.7 percent lower than November 2011, and all property segments had the lowest new listings in over a decade. The low inventory of homes for sale continues to drive down the median days on market, which at 22 days, is half of what it was just a year ago. The average sale-to-list-price ratio also continues to rise, up to 96.6 percent from 93.7 percent last November.

Thanks for reading NEW Washington DC METRO RE Market Report. Here are some other recent coolDCrecom posts:

DC Real EstateCity Market at O December 2012 Update

The Woolworth Condominiums - 1115 H Street NE DC

The Maples New Capitol Hill Condos, Townhomes Deliver 2013

Capitol Crossing DC Condos Reach Starting Line

Hailey House New Condos Columbia Heights DC

One Level Waterfront Luxury at Oronoco Alexandria VA

Lock & Electric Condos 14th formerly Lionel Lofts

N Street Follies 64 New Condos in Dupont 1743-1755 N Street NW

Davis Place Condos 3937 Davis Place NW DC

Northern Exchange DC Condos 4th Floor Released!

CityCenter Residences New Info, First Sales

1939 12th Street NW #203 DC 20009 - LIFESTYLE FOR SALE

1337 Connecticut Ave NW Proposed Project in Dupont Circle DC

Calistoga Condominium 2225 California St NW

1700 Euclid Street NW DC Condo Floorplans

2013 Events in Washington DC

Northern Exchange DC Floor Plans & Pricing

Winterizing Your Home In Washington DC Metro 



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Real Estate General Information
District of Columbia
new washington dc metro re market report

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


The Isaacs Team llc
What's your DC Metro real estate question?
Spam prevention

Additional Information