WASHINGTON, D.C. – (RealEstateRama) — GCAAR is pleased to update its market information through a partnership with ShowingTime RealEstate Business Intelligence (RBI). Monthly analysis of the Washington, DC and Montgomery County, MD housing markets gets more detailed attention here, while GCAAR continues to be your source for ear-to-the-ground reporting from our REALTOR® members. Get monthly housing stats at gcaar.com.
Washington, DC – April 2018 Market Trends Report Home Sales Up 9.4 Percent; Median Sales Price Reaches Highest April Level April’s median sales price was $590,000, an increase of 13.5 percent over last year’s median and the highest April level on record. The 755 April sales represented a 9.4 percent increase versus last year and above the April fiveyear average of 712. Even with the median sales price at record highs, supply is scarce with only 1.7 months of supply on hand. Half the homes sold in April were on the market for eight days or less and the competition among buyers kept the median percent of asking price at 100 percent. Read the full report
Montgomery County, MD – April 2018 Market Trends Report Median Sales Price Up Slightly; New Listings Increase by 6.8 Percent April’s tally of 1,137 closed sales beat last year’s level by 1.8 percent and above the five-year April average by 8.4 percent. There were 1,975 new listings added in April, 6.8 percent higher than last April’s mark. The 1,451 new pending sales marked a 1.7 percent rise from last April and fell below the five-year April average by 2.1 percent, or 31 contracts. The 2,276 active listings heading into May represent 2.2 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.3 months of supply last April. Read the full report
GCAAR is the voice for REALTORS® in Washington, DC and Montgomery County, Maryland. Representing over 10,000 real estate professionals in the greater capital area, GCAAR provides numerous services vital to its members’ daily business needs and works with lawmakers to ensure public policy that encourages home ownership
Contact: Bobette Banks