DMV Home sales volume were up in May compared to this time last year
The Following analysis are based on May 20916 MRIS housing data and prepared by Showing Time RealEstate Business Intelligence (RBI).
- May 2016’s median sales price of $430,000 was down 1.1% or $5,000 compared to last year, but was up $10,750 or 2.6% compared to last month.
- Sales volume across the DC Metro area was more than $2.8 billion, up 11.4% from last May and up 19.3% from last month.
- May closed sales of 5,432 were up 12.3% compared to last year and were at a new decade high for the month. This is the 18th consecutive month of year-over-year increases in closed sales.
- New contracts increased by 3.7% to 6,385, a new May record.
- New listings of 7,436 were down 10.1% year-over-year and down 15.6% compared to last month.
- Active inventories of 11,072 listings were down 8.5% from last year and down 0.4% from last month. This marks the first time since September 2013 that Y-O-Y inventories declined.
- The average percent of original list price received at sale in May was 98.3%, up from last year’s 98.1%.
- The median days-on-market for May 2016 was 13 days, up one day from last year, and down one day from last month.
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