August 2019 Home Sales and Median Prices
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 April 2019 Bright MLS housing data.
- The August 2019 Washington D.C. Metro area median home price of $465,000 was up 5.1% or $22,750 compared to last year, the highest August price of the decade.
- Sales volume across the DC Metro area was nearly flat at $2.75 billion.
- Closed sales of 4,907 were down 3.1% compared to last year and down 7.1% compared to last month.
- New pending sales, however, were up by 2.1% to 4,845.
- New listings of properties compared to last year declined by 6.8% to 5,657.
- Overall inventory levels declined by 20.0% to just 7,743 active listings, the lowest August level this decade and the third month in a row of double-digit declines in year-over-year inventories.
- The average percent of original list price received at sale was 98.6%, up from 98.0% last year and at the highest August level of the last ten years.
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.