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, 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 enters the Fall season with a bit of a mixed bag. Active Listings jumped by more than a 1,000 helping reduce our inventory shortage and New Listings spiked by more than 600 in September. As we mentioned last month, inventory will still be the most limiting factor for fall transactions as we go forward but this increase in both Active and New Listings brings optimism to many.
2. Median Sold Price – The DC Metro settled at $387,000 across all segments in September. While lower than the previous 5 months, this still represents a 7.5% increase over this time last year.
3. Average Days on Market – After reaching a low of 31 ADOM in June, DC Metro has risen slightly to 39 days in September. 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% 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.