Eckington's Rowhouse Market Report for June 2018
If you have a rowhome home in the Eckington neighborhood in Washington DC and you're curious about what it might be worth, or you're trying to decide when and if you should put your home on the market, take a look at this market report for your neighborhood.
In Eckington, Washington, DC, the median sold price for Attached/Townhouse properties for June was $857,000, representing an increase of 3.3% compared to last month and an increase of 35% from Jun 2017. The average days on market for units sold in June was 24 days, 41% above the 5-year June average of 17 days. There was a 37.5% month over month decrease in new contract activity with 5 New Pendings; a 23.1% MoM decrease in All Pendings (new contracts + contracts carried over from May) to 10; and a 33.3% increase in supply to 8 active units.
This activity resulted in a Contract Ratio of 1.25 pendings per active listing, down from 2.17 in May and an increase from 1.18 in June 2017. The Contract Ratio is 30% lower than the 5-year June average of 1.78. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.
Thinking about selling your home in Eckington?
The Hollish Hill Group has a marketing plan that works. Let us show you how we could put our marketing plan to work for you and sell your Eckington rowhome.
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