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 February, 2015. 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 – January numbers are in and lets just say that the spring season may have started early this year! Across almost every statistic the January numbers are up when compared to the same time in 2014. New Listings are up 4.4%; Closed Sales are up 4.5%; New Pendings are up 6.2% and Active Listings are up 17.9%! These numbers are great news for the DC Metro and signal an early spring market for 2015.
2. Median Sold Price – The DC Metro Median Sold Price for January, 2015 dropped substantially across All segments to $385,000 – but that still reflects a 4% increase from December, 2014! This is great news for the region as prices continue to steadily increase.
3. Average Days on Market – For the seventh straight month, the DC Metro ADOM rose again in January, 2015. After settling at 34 days in June, the January ADOM for the DC Metro is 65 days and climbing. The ADOM for January, 2015 is 18.2% higher than the same period last year. However, we do anticipate a drop in the ADOM due to the coming Spring sales season.
4. Average Sold to Original List Price Ratio – After cresting in May, 2014, the DC Metro ASOLP Ratio fell and now stands at 95.7%, reflecting the overall slowdown in the market, even though the ASOLP Ratio is still at historically high levels. So while pricing is increasing across the region, Buyers are still finding the ability to negotiate.
With the first month of 2015 behind us, these real estate statistic numbers are reflecting a welcome turn in the DC Metro Region. And with a warmer winter projected this year, we expect winter 2015 numbers to continue this trend. 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.
Wilson Realty Group – Real Simple. Real Savings. Real Results.