Each month RBI publishes a Housing Market Update for general readership, but we’re digging deeper into the numbers for trends that our customers need to know. All this information comes from rbiEXPERT. Learn how you can sign up for a free trial subscription here.
While January was generally slow compared to this time last year it was actually a banner month if you compare it to the five year average. That means things are most certainly picking up and we should all be prepared to buckle our seat belts for the upcoming sales season. Here’s a few notable data gems we unearthed from the numbers. Click on each link to see the complete report for that locale.
Bethesda’s Median Sale Price Sees Huge Jump. Last month the median sales price for zip code 20814 was $500,000, which was over 25% higher than January of last year. Also, the total sold dollar volume was up 14% compared to last year ($10,593,800 for January 2014).
Plummeting DOM For Baltimore Metro. This Metro region saw the average days on market drop by 17 days compared to the five-year January average, down to 83 days from 100. The same trend holds true for median days on market, which is also at a five-year low for January at 50 days. This represents an 18-day improvement over the five-year January average for this important indicator.
DC Has Even Fewer Listings. It seems hard to believe the number of listings could get so low for Washington D.C., but we are down to only 1,108 active listings on the books for January 2014. The five year average is 1,624 so hopefully this spring will see an increase in homes coming to market.
Arlington County’s New Listings Keep Pace. In a time with such extreme inventory shortages it is reassuring to see that Arlington—one of the most desired places to live—has an active pipeline. Last month’s new listings totaled 235, just two homes shy of the five year average (237).