Year-over-Year Gains in Sales Price and Contract Activity in DC Metro Area
OVERVIEW
The 2,507 homes sold in the Washington, D.C. Metro Area represent the highest February total since 2007. Inventory levels continue to decline with the 9,823 active listings to end the month representing the lowest supply of homes since August 2005. With 368 active foreclosures representing only 3.7% of the active market (the lowest level since July 2008) and the fewest new foreclosures entering the market since March 2008, pricing continues to stabilize with median sales price up 6.0% over February 2011 levels.
First Year-over-Year Gain in Sales Price in Baltimore Metro since October 2010
OVERVIEW
The 1,454 homes sold in the Baltimore Metro Area represent the highest February total since 2007. Inventory levels continue to decline with 11,919 active listings at the end of February representing the lowest supply of homes since March 2006. With 440 active foreclosures representing only 3.7% of the active inventory (the lowest level since November 2008) and a shift in the composition of homes types sold, the median sales price for the region saw an annual (year-over-year) increase for the first time in 16 months.
Thank you for providing this insightful information.