April 2019 Home Sales and Median Prices
Closed sales are mixed, but inventory levels remain at historically low levels.
The following analysis of the Washington, D.C. Metro Area housing markets has been prepared by Elliot Eisenberg, Ph.D. of MarketStats by ShowingTime and is based on January 2019 Bright MLS housing data.
- The April 2019 Washington D.C. Metro area median home price of $475,000 was up 5.6% or $25,000 and at the highest overall monthly median sales price of the decade.
- Sales volume across the DC Metro area was nearly $2.8 billion, up 5.9% from last year.
- The 4,997 closed sales in April were up 3.3% from last year, the first time since last July that year-over-year sales increased and were at the highest April level of the past decade.
- New pending sales were up 1.1% to 6,513.
- New listings compared to last year were down 4.1% to 7,976.
- Driven by increasing sales and fewer new listings, active listings of 7,535 were down 12.9% from last year.
- The average percent of original list price received at sale was 99.3%, easily the highest April level of the last decade. Additionally, homes in many areas sold for more than their original listing price.
About Bright MLS
The Bright MLS real estate service area spans 40,000 square miles throughout the Mid-Atlantic region, including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C. and West Virginia. As a leading Multiple Listing Service (MLS), Bright serves approximately 95,000 real estate professionals who in turn serve over 20 million consumers. For more information, please visit www.brightmls.com.
About Elliot Eisenberg
Elliot Eisenberg, Ph.D. is the Chief Economist of GraphsandLaughs, LLC, a firm specializing in economic consulting and data analysis. He is a frequent speaker on topics including: economic forecasts, economic impact of industries such as homebuilding and tourism, consequences of government regulation, economic development and other current economic issues. Dr. Eisenberg earned a B.A. in economics with first class honors from McGill University in Montreal, as well as a Masters and Ph.D. in public administration from Syracuse University. Eisenberg was formerly a Senior Economist with the National Association of Home Builders in Washington, D.C. He is a regularly featured guest on cable news programs, talk and public radio, writes a syndicated column and authors a daily 70 word commentary on the economy that is available at www.econ70.com.