Washington, DC Metro Area Housing Market, End of Year Metrics
The Washington DC Metro Area housing market ended on a positive note in 2014, with nearly every indicator performing better than in December 2013. Closed sales increased 8.0 percent from 2013, the first year-over-year increase in 2014. Only two jurisdictions had fewer closed sales than last December: Washington, D.C. (-2.2 percent) and Alexandria City (-0.6 percent). The total number of closed sales for the year was 6.0 percent below the total number sold in 2013. However, the total number of closed sales in 2014 was above the annual totals of every year from 2007 to 2012. In December, the number of new pending contracts increased 10.8 percent from December 2013, marking the second consecutive month of year-over-year growth and boding well for next month’s closed sales count.
Inventory also increased and both active listings and new listings were higher than in December of last year. The median sales price was above its year-ago level, increasing 4.3 percent to reach the highest December-level on record. The median sales price for the calendar year increased 1.4 percent from 2013, reaching the highest level since 2007.
Conservatory, Longwood Gardens IMG 1814
Photograph by Roy Kelley
Roy and Dolores Kelley Photographs