DECEMBER 2018: Real Estate Market Data for Washington DC Metro Area

Market Updates by Natasha Lingle

December 2018 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 January 2019 Bright MLS housing data.

Prices at record December high in Washington D.C Metro Area. Sales continue to decline. Inventories flat to increasing.

• The Washington D.C. Metro area had a December median home price of $445,000, up 5.9% or $24,950 from last December. This was easily the highest December level of the decade. Prices were down a slight 1.1% or $4,900 from last month.
• Sales volume across the DC Metro area was just below $2 billion, down 8.1% from last year.
• December closed sales of 3,521 were down 9.4% compared to last year, the fifth consecutive month of declining year-over-year sales.
• New pending sales, however, were up 1.4% to 3,362, the first time in five months that year-over-year pending sales increased.
• New listings compared to last year were down 3.2% to 2,710.
• Active listings compared to last year dipped just slightly, down 0.5% to 6,697.
• The average percent of original list price received at sale in December was 97.2%, the same as last year.

Click here to access the full PDF version of this report

About the DC Metro Housing Market Update

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 in ShowingTime’s proprietary database. 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. Data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.

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.

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