November 2018 DC Real Estate Market Conditions

Condos & Co-Ops

Median sold price for Condo & Coop properties for November was $480,000, representing an increase of 3.2% compared to last month and an increase of 2.8% from Nov 2017. The average days on market for units sold in November was 52 days, 16% below the 5-year November average of 62 days. There was a 1.9% month over month increase in new contract activity with 326 New Pendings; an 8.6% MoM increase in All Pendings (new contracts + contracts carried over from October) to 443; and a 12.4% decrease in supply to 826 active units.

This activity resulted in a Contract Ratio of 0.54 pendings per active listing, up from 0.43 in October and a decrease from 0.60 in November 2017. The Contract Ratio is 19% lower than the 5-year November average of 0.67. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

Attached Townhomes

Median sold price for Attached/Townhouse properties for November was $703,750, representing a decrease of 4.3% compared to last month and an increase of 8.4% from Nov 2017. The average days on market for units sold in November was 52 days, 14% below the 5-year November average of 61 days. There was a 19.1% month over month decrease in new contract activity with 258 New Pendings; a 3.1% MoM decrease in All Pendings (new contracts + contracts carried over from October) to 437; and a 10.4% decrease in supply to 481 active units.

This activity resulted in a Contract Ratio of 0.91 pendings per active listing, up from 0.84 in October and a decrease from 1.10 in November 2017. The Contract Ratio is 23% lower than the 5-year November average of 1.19. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

Detached Single Family

Median sold price for Detached properties for November was $891,450, representing an increase of 7.9% compared to last month and an increase of 18.7% from Nov 2017. The average days on market for units sold in November was 39 days, 42% below the 5-year November average of 67 days. There was an 11.9% month over month decrease in new contract activity with 119 New Pendings; a 0.5% MoM decrease in All Pendings (new contracts + contracts carried over from October) to 203; and a 0.9% decrease in supply to 319 active units.

This activity resulted in a Contract Ratio of 0.64 pendings per active listing, up from 0.63 in October and a decrease from 0.88 in November 2017. The Contract Ratio is 24% lower than the 5-year November average of 0.85. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

How did your zip code and home type fare? DC real estate market data

MarketStats by ShowingTinme are released mid-month of each month. Data shown is for the previous month.

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