March contracts and closed sales up over 2014 levels, inventories increase
Rockville, MD – (April 10, 2015) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on March 2015 MRIS housing data.
OVERVIEW
The Washington DC Metro housing market enjoyed another strong month, with year-over-year increases in sales, new contracts, inventories and median days-on-market compared to March 2014. Closed sales increased by 15.6% from March 2014 and new contracts rose by 10.8%, with all market segments experiencing a rise. The number of closed sales increased to 3,662 with single-family detached making the strongest showing, rising by 19.0% to 1,677 units. The number of new contracts increased to 5,554 with single-family detached increasing by the largest percentage of 12.4% to a total of 2,622. Overall median sales prices rose by 2.6%.