As we do every Monday after the monthly release of the local statistics, Wilson Realty Group continues our weekly series focused on the DC Metro Region for the month of August, 2013. The DC Metro Region includes Alexandria City, Arlington County, Fairfax City, Fairfax County, Falls Church City, Montgomery County, Prince George’s County and Washington DC.
1. Market Activity – The DC Metro continues its summer swoon as it relates to market activity. Active Listings remained flat and New Listings were down again. Inventory will be the most limiting factor for fall transactions as we go forward. Deals exist across the market but they are few and far between.
2. Median Sold Price – The DC Metro has given back all gains since April settling at $415,000 across all segments.
3. Average Days on Market – After reaching a low of 31 ADOM in June, DC Metro has risen slightly to 37 days in August. This is still a very robust market and listings are not sitting on the market for long.
4. Average Sold to Original List Price Ratio – The DC Metro crested in June as it relates to the ASOLP Ratio. But much like the ADOM above, the market is still very strong with the ASOLP Ratio at 98.61% across all segments.
With the normal buying season behind us, these numbers are not surprising. At Wilson Realty Group, we help our clients understand market timing each year as it relates to the broader market, interest rates and more specifically the neighborhood dynamics with each transaction. The trend for DC Metro gives buyers and seller alike even more reason to use Wilson Realty Group for your next move. Call us today, 202-642-5478, and let us tell you how our hybrid model can help save you thousands with your next move.