Local News

Washington DC Metro Market Update

January 14, 2023
Local News

Washington DC Metro Market Update

January 14, 2023
Local News

Washington DC Metro Market Update

January 14, 2023
Local News

Washington DC Metro Market Update

January 14, 2023

December 2022 Saw The Lowest Number Of New Pending Sales Since 2014.

Meanwhile, the number of homes sold in the Washington DC Metro Market was the lowest in 15 years. At the same time, the median price fell year over year for the first time since 2016 which is 15% lower from the peak of the market, according to data compiled by Bright MLS on the Washington D.C. Metro region. While home prices have decreased, the median sales price in the Mid-Atlantic is more than 20% higher than home sales prior to the pandemic. 

The average days of the market was 22 days a dramatic increase from the 11 days on the market in December 2021.

The number of new listings was down more than 30% and the number of showings was down to almost 40% as compared to this time last year.

Bright MLS T3 Home Demand Index indicates that January 2023 is off to a slow start. The HDI for the Washington DC Metropolitan Area has fallen to 56 and reflected in two key places, down from 69 a year ago and from 75 as compared to last month. 

Is there any good news about the housing market?

Housing inventory has increased in Fairfax City (up 116.7%) and Loudoun County (up 84%) 

How should home buyers prepare to buy a home in this current market?

Still have questions? Contact us directly at Victoria@homebuyerbrokerage.com 

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Washington DC Metro Market Update

By
January 14, 2023
Washington DC Metro Market Update
Washington DC Metro Market Update
Washington DC Metro Market Update
Washington DC Metro Market Update

December 2022 Saw The Lowest Number Of New Pending Sales Since 2014.

Meanwhile, the number of homes sold in the Washington DC Metro Market was the lowest in 15 years. At the same time, the median price fell year over year for the first time since 2016 which is 15% lower from the peak of the market, according to data compiled by Bright MLS on the Washington D.C. Metro region. While home prices have decreased, the median sales price in the Mid-Atlantic is more than 20% higher than home sales prior to the pandemic. 

The average days of the market was 22 days a dramatic increase from the 11 days on the market in December 2021.

The number of new listings was down more than 30% and the number of showings was down to almost 40% as compared to this time last year.

Bright MLS T3 Home Demand Index indicates that January 2023 is off to a slow start. The HDI for the Washington DC Metropolitan Area has fallen to 56 and reflected in two key places, down from 69 a year ago and from 75 as compared to last month. 

Is there any good news about the housing market?

Housing inventory has increased in Fairfax City (up 116.7%) and Loudoun County (up 84%) 

How should home buyers prepare to buy a home in this current market?

Still have questions? Contact us directly at Victoria@homebuyerbrokerage.com 

You may download the PDF by clicking here.
Request More Information

We will not share your information with anyone....

First Name*
Last Name*
Email*
Click here to view content
Oops! Something went wrong while submitting the form.

Thank you for requesting more information...

We value and protect your privacy and will never share your contact information with anyone else.

You may also download the PDF here.

How can we help?

The exclusive buyer agents at HomeBuyer Brokerage specialize in serving home buyers. Please reach out with questions at info@homebuyerbrokerage.com.

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