Washington, D.C. – (RealEstateRama) — GCAAR is pleased to update its market information through a partnership with ShowingTime RealEstate Business Intelligence (RBI). Monthly analysis of theWashington, DC and Montgomery County, MD housing markets gets more detailed attention here, while GCAAR continues to be your source for ear-to-the-ground reporting from our REALTOR® members. Get monthly housing stats atgcaar.com.
Washington, DC – April 2016 Market Trends Report
Sales and Contracts Up for the Third Straight Month; New Pending Sales Increase 5.7 percent Across All Home Segments
April’s median sales prices remained the same as last year at $525,000. The 771 April sales represented an 8.4 percent increase versus last year, and tops the five-year April average by 15.6 percent (104 sales). New pending sales increased by 5.7 percent overall with gains across all home type segments. Half the homes sold in April were on the market for 10 days or less and competition among buyers kept the average percent of asking price received at 99.0 percent. Read the full report.
Montgomery County, MD – April 2016 Market Trends Report
Sales Jump 8.6 Percent; Median Days-on-Market Drops to 15 Days
The 1,103 closed sales in Montgomery County in April increased 8.6 percent from last year’s sales tally and exceeded the five-year April average by 13.8 percent. New contracts were up 6.0 percent compared to April 2015. Half of the homes sold were on the market 15 days or less, a three-day improvement from April 2015. Read the full report.
GCAAR is the voice for REALTORS® in Washington, DC and Montgomery County, Maryland. Representing over 9,400 real estate professionals in the greater capital area, GCAAR provides numerous services vital to its members’ daily business needs and works with lawmakers to ensure public policy that encourages home ownership.
Contact: Bobette Banks
bbanks (at) gcaar (dot) com