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 December, 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. With this beling the last report of 2012, we will take a look back over the last 12 months to compare where we stand heading into the 2014 market.
1. Market Activity – The peak of the 2013 season occurred in April and May and did not exceed the activity in 2012. As a matter of fact, we were down in 11 out of 12 months compared to the same month in 2012. The market ended 2013 with a mixed bag as Active Listings were up over 7% for the year and All Pendings were down almost 16% for the same time frame.
2. Median Sold Price – The DC Metro Median Sold Price for 2013 increased by double digit percentages in almost every segment. This is remarkably strong growth and is a result of a confluence of events, including historically low interest rates and a limited inventory creating significant competition in the market.
3. Average Days on Market – After reaching a low of 31 ADOM in June, DC Metro has risen slightly to 48 days in December. The area’s ADOM is still the lowest in the country and represents strong demand for the local market as we head into 2014.
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 97.1% across all segments. However, the ASOLP Ratio has now recorded a 6th straight month of decline which we will be watching with particular interest going forward.
With 2013 behind us, these real estate statistic 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.
Don’t waste a single dollar in your next real estate transaction. The trend for DC Metro gives buyers and seller alike even more reason to use Wilson Realty Group for your next move as every dollar in the transaction counts. Call us today, 202-642-5478, and let us tell you how our hybrid model can help save you thousands with your next move.
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