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 September, 2014. 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 – September numbers are in while new listings jumped in September, the activity numbers were flat across the region. All Pendings are virtually even from August while still being down close to 9% year over year and New Listings are up over 1,200 from August! Closed Sales are down over 500 from August as well as down 2.3% from the same period last year. While the traditional selling months are March, April and May there isn’t traditionally this variety of difference in September. Now that we have had three months of fairly significant drops in Market Activity we will be watching to see where the DC Metro lands for 2014 in comparison to 2013.
2. Median Sold Price – The DC Metro Median Sold Price for September, 2014 decreased $25,000 across all segments. Additionally, the Median Sold Price is 0.8% different from August, 2013 which means that the market lost a whole year of appreciation. This is a very disappointing result and something that we will follow very closely in the next couple of months.
3. Average Days on Market – For the second time in 2014, the DC Metro ADOM rose again in consecutive months. After settling at 34 days in June, the September ADOM for the DC Metro is 45 days and climbing. The ADOM for September, 2014 is 15.4% higher than the same period last year.
4. Average Sold to Original List Price Ratio – After cresting in May, 2014, the DC Metro ASOLP Ratio fell and now stands at 97.2%, reflecting the overall slowdown in the market, even though the ASOLP Ratio is still at historically high levels.
With the third quarter of 2014 behind us, these real estate statistic numbers are reflecting a surprising turn in the DC Metro Region. 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.