June 2017 Housing Market Update for Washington DC Metro Areas

June Home Sales and Median Prices

The following analyses of the Washington, D.C. housing markets are based on June 2017 MRIS housing data.

• The Washington D.C. Metro median sales price dropped slightly to $455,000 from last month’s record-setting $460,000 and ranks as the second-highest monthly price of the last twenty years.  It was a 2% or $9,000 increase over last year.
• Sales volume across the DC Metro area was over $3.4 billion, up 5.8% from last year.
• Closed sales of 6,142 were up 3.4% compared to last year and set an all-time high for the decade.
• New contract activity of 5,961 dropped 0.3% compared to last year and 10.6% compared to last month’s record level of 6,668.
• New listings of 7,802 were up 4.0% compared to last year but were down 3.5% compared to last month.  This was the highest June level of the decade.
• Active listings of 10,481 are down 7.3% compared to last year, but are up 6.2% compared to last month. This is the 14th consecutive month of declines in year-over-year inventory levels.
• The average percent of original list price received at sale in June was 98.5%
• The median days-on-market for June 2017 was 12 days, two days lower than last year.

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The DC Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data.

The DC Metro Area housing market includes: Washington, D.C., Montgomery County and Prince George’s County in Maryland, and Alexandria City, Arlington County, Fairfax County, Fairfax City, and Falls Church City in Virginia.