Washington, D.C. and Baltimore Metro December 2016 Housing Market Update

DC Metro Area - Overview

  • December 2016’s median sales price of $410,100 was up $15,100 or 3.8% compared to last year. This is the highest December median sales price on record, topping the previous high of $408,000 seen in 2004.
  • Sales volume across the DC Metro area was $2.04 billion, down 0.9% from last December.
  • Closed sales of 4,023 were down 4.2% compared to last year.
  • New contracts increased by 1.7% to 3,538, the highest December level in a decade.
  • New listings of 3,089 decreased 0.5% compared to last year.
  • Active listings of 7,457 are down 13.7% compared to last year and down 18.5% compared to last month. This is the eighth consecutive month of declines in year-over-year inventory levels.
  • The average percent of original list price received at sale in December was 97.0%, up from last year’s 96.4% but down from last month’s 97.2%.
  • The median days-on-market for December 2016 was 29 days, five days lower than last year.

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Baltimore Metro Area - Overview

  • The Baltimore Metro area median sales price of $245,000 was up 4.3% or $10,000 from last year and at the highest December level since 2008. 
  • Sales volume across the Baltimore Metro area was up 9.7% from last year to $916.6 million.
  • This was the highest level of December sales in a decade.  December closed sales of 3,196 were up 5.0% compared to last year.
  • The 2,630 new pending contracts recorded in December were down 3.7% compared to last year. 
  • The number of new listings dropped 3.9% to 2,651 compared to last year.
  • The number of active listings declined by 17.3% to 9,599, the 16th consecutive month of declining year-over-year inventory levels.
  • The average percentage of original list price received at sale in December was 94.8%, the highest December level in a decade.
  • The median days-on-market was 42 days, down from 47 days last year, and the lowest level in a decade.

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About the DC Metro Area Housing Market Update

The DC Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in MarketStats by ShowingTime's proprietary database. The DC Metro Area housing market includes: Washington, D.C., Montgomery County and Prince George’s County in Maryland, and Alexandria City, Arlington County, Fairfax County, Fairfax City, and Falls Church City in Virginia. Data provided by MarketStats by ShowingTime, based on listing activity from MRIS. 

About the Baltimore Metro Housing Market Update

The Baltimore Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in ShowingTime's proprietary database. The Baltimore Metro Area housing market includes the City of Baltimore, Anne Arundel County, Baltimore County, Carroll County, Harford County and Howard County in Maryland. Data provided by MarketStats by ShowingTime, based on listing activity from MRIS.

ABOUT MRIS

MRIS, a Bright MLS, Inc. company is a leading provider of real estate information technology and one of the nation’s leading multiple listing services (MLS), facilitating nearly $54 billion in system wide sales in 2016. The company supports over 45,000 real estate professionals in the Mid-Atlantic region, including Maryland, Northern Virginia, Washington, D.C. and parts of Pennsylvania, Delaware and West Virginia. MRIS provides its customers with a portfolio of best-in-class desktop, mobile and cloud-based technologies to improve the real estate transaction process for both real estate professionals and homebuyers and sellers. For more information, please visit MRIS.com or MRIShomes.com to search for thousands of available homes in the Mid-Atlantic region.