February 2019 Housing Market Update

Inventories remain near historically low levels, pushing prices for both D.C. Metro and Baltimore Metro areas to record February highs. Sales continue to slow.

The following analysis of the Washington, D.C. Metro and Baltimore Metro Area housing markets has been prepared by Elliot Eisenberg, Ph.D. of MarketStats by ShowingTime and is based on February 2019 Bright MLS housing data.

  • The February 2019 Washington D.C. Metro area median home price of $427,000 was up 4.1% or $17,000 from last year and marked the 29th consecutive month of year-over-year price increases.
  • Sales volume across the DC Metro area was nearly $1.5 billion, down 2.2% from last year.
  • Closed sales declined for the seventh month in a row to 2,870, a 5.7% decrease compared to last year.
  • New pending sales compared to last year were also down, by 1.6% to 4,377.

Continue Reading…