July 2017 Housing Market Update for Washington DC Metro Areas
July Home Sales and Median Prices
The following analyses of the Washington, D.C. housing markets are based on July 2017 MRIS housing data.
- The Washington D.C Metro Median sales price of $439,900 was up 1.1% or $4,900 compared to last year but was down 3.3% or $15,100 compared to last month. This is the highest July price of the decade.
- Sales volume across the DC Metro area was over $2.8 billion, up 6.8% from last year.
- Closed sales of 5,157 were up 2.2% compared to last year but were down 16.0% compared to last month.
- New contract activity of 5,116 dropped 2.9% compared to last year and 14.2% compared to last month.
- New listings of 6,282 were up 0.9% compared to last year.
- Active listings of 10,276 are down 6.1% compared to last year and down 2.0% compared to last month. This is the 15th consecutive month of declines in year-over-year inventory levels.
- The average percent of original list price received at sale in July was 98.3%.
- The median days-on-market for July 2017 was 14 days, three days lower than last year.
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.