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

May 12, 2015

Condo and Single-Family Prices Continue to Rise in the District
County Contracts and Settlements Increase for Second Consecutive Month 

  

District condo and single-family prices continued their upward climb in April, even though single-family inventory rose slightly. Montgomery County prices decreased and inventory rose in both areas compared to the same time last year. Condo and single-family contracts and settlements increased in the County for the second consecutive month compared to April 2014.   

    

Washington, DC

The days on market was up by two days (6.06%) compared to April 2014. The median price for condos rose 7.5%, with single-family homes increasing by 9.1%. Inventory dropped 0.6% for condos, but increased by 4.5% for single-family homes. Contract activity increased by 3.2% for condos, and 6.9% for single-family homes. Condo settlements saw a sizable increase, 21.4%, and single-family homes increased 4.7% compared to April 2014.

 

Montgomery County

The average number of days on market was up by 12 days (27.27%) compared to April 2014. Median condo prices dropped by 1.3%, and single-family homes dropped slightly, 0.3%, compared to the same time last year. The amount of available inventory increased in April, with a 26.8% increase for condos and a 15.3% increase for single-family homes. The number of contracts rose slightly for condos, 0.3%, and single-family homes saw a 13% increase. Condo settlements increased by 5.4% and single-family settlements increased by 20.8% compared to April 2014.   



District of Columbia
April 2015
April 2014Change
Average Days on Market: Condo &
Single-Family Homes
35
33
6.06%
Condo Median Price$430,000$399,900
7.5%
Condo Total Active Listings
632
636
-0.6%
New Condo Contracts This Month452
438
3.2%
Condo Settlements This Month375
309
21.4%
Condo Absorption Rate (Total Active Listings /New Contracts)1.40
1.45
-3.4%
Single-Family Median Price
$625,000
$573,000
9.1%
Single-Family Total Active Listings
605
579
4.5%
New Single-Family Contracts This Month
494
462
6.9%
Single-Family Settlements This Month337
322
4.7%
Single-Family Absorption Rate (Total Active Listings /New Contracts)
1.22
1.25
-2.4%
Montgomery CountyApril 2015April 2014Change
Average Days on Market: Condo &
Single-Family Homes
56
44
27.27%
Condo Median Price
$220,000
$223,000


-1.3%
Condo Total Active Listings
677
534
26.8%
New Condo Contracts This Month
305
303
0.7%
Condo Settlements This Month
235
223
5.4%
Condo Absorption Rate (Total Active Listings /New Contracts)2.21
1.76
25.6%
Single-Family Median Price$440,000$441,185
-0.3%
Single-Family Total Active Listings2452
2127

15.3%
New Single-Family Contracts This Month1197
1059
13.0%
Single-Family Settlements This Month783
648
20.8%
Single-Family Absorption Rate (Total Active Listings /New Contracts)2.05
2.01
2.0%

GCAAR
15201 Diamondback Drive, Suite 100
Rockville, Maryland 20850