Percent changes calculated using year-over-year comparisons
New Listings were down 1.0 percent for single family homes and 11.4 percent for townhouse-condo properties. Under Contracts decreased 3.5 percent for single family homes and 13.4 percent for townhouse-condo properties. The Median Sales Price was up 20.1 percent to $615,000 for single family
homes and 19.8 percent to $410,000 for townhouse-condo properties. Days on Market decreased 28.0 percent for single family homes and 52.9 percent for townhouse-condo properties. Inventory was at an all-time low of 860,000 as February began, down 17% from a year ago and equivalent to 1.6 months supply. According to Lawrence Yun, Chief Economist at the National Association of REALTORS®, much of the current housing supply is concentrated at the upper end of the market, where inventory is increasing, while homes priced at the lower end of the market are quickly disappearing, leaving many first-time buyers behind. The shortage of homes is boosting demand even further, and with bidding wars common in many markets, it’s no surprise sales prices continue to soar.
Source: https://www.dmarealtors.com/
