For Immediate Release
SF

15201 Diamondback Drive, Suite 100

Rockville, MD 20850

Phone: 301.590.2000
Fax: 301.590.2248 

www.gcaar.com

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Contact:
Bobette Banks
[email protected]
301-590-8764

December 11, 2014


 DC Condo Inventory Drops 
Prices Show Slight Increase; Days on Market Continue to Rise in the County

District condo inventory dropped in November as both jurisdictions saw modest price increases for condos and single-family homes. Montgomery County saw a slight increase in single-family contracts and settlements compared to November 2013, but inventory and days on market were higher compared to the same time last year.

 

Washington, DC

The average days on market was down one day compared to November 2013. The median price for condos rose 2.1%, with single-family homes increasing by 3.3%. Inventory dropped 4.5% for condos, but rose 0.6% for single-family homes. Contract activity dropped slightly for condos, 0.4%, but increased 4.6% for single-family homes. Settlements increased 16.8% for condos, but dropped 2.1% for single-family homes compared to November 2013. 

 

Montgomery County

The average number of days on market was up 14 days compared to November 2013. Median condo prices saw a 1.5% increase, and the price of single-family homes rose by 0.6%. The amount of available inventory increased in November, with a 25.9% increase for condos and a 29.9% increase for single-family homes. The number of contracts decreased 4% for condos, but increased by 8.1% for single-family homes. Settlements dropped for condos, 12.2%, but increased by 1.1% for single-family homes compared to November 2013.   



District of Columbia
November 2014
November 2013Change
Average Days on Market: Condo &
Single-Family Homes
39
40
-2.50%
Condo Median Price$416,250$407,500
2.1%
Condo Total Active Listings
621
650
-4.5%
New Condo Contracts This Month274
275
-0.4%
Condo Settlements This Month278
238
16.8%
Condo Absorption Rate (Total Active Listings /New Contracts)2.26
2.36
-4.2%
Single-Family Median Price
$620,000
$600,000
3.3%
Single-Family Total Active Listings
662
658
+0.6%
New Single-Family Contracts This Month
365
349
4.6%
Single-Family Settlements This Month278
284
-2.1%
Single-Family Absorption Rate (Total Active Listings /New Contracts)
1.81
1.89
-4.2%
Montgomery CountyNovember 2014November 2013Change
Average Days on Market: Condo &
Single-Family Homes
58
44
+31.82%
Condo Median Price
$223,099
$219,900


1.5%
Condo Total Active Listings
573
455
+25.9%
New Condo Contracts This Month
217
226
-4.0%
Condo Settlements This Month
173
197
-12.2%
Condo Absorption Rate (Total Active Listings /New Contracts)2.64
2.01
+31.3%
Single-Family Median Price$462,900$460,000
0.6%
Single-Family Total Active Listings2170
1671

+29.9%
New Single-Family Contracts This Month710
657
8.1%
Single-Family Settlements This Month562
556
1.1%
Single-Family Absorption Rate (Total Active Listings /New Contracts)3.06
2.54
+20.5%

GCAAR
15201 Diamondback Drive, Suite 100
Rockville, Maryland 20850