Lots to be thankful for in our DC Area (Montgomery County, Northern Virginia, Washington) November housing market: According to the Washington Business Journal, the Washington, D.C. Metro housing market reached several milestones last month. Pending home sales reached the highest level in a decade for the month of November and new listings were the highest since November 5 years ago.
RealEstate Business Intelligence reports a 10.2 percent 2015 November closed sales increase over last November.
The median price of a house or a condo in the Washington market is now $405,000, the highest November level since 2006.
At the end of November there were 10,682 active listings in the Washington metro, up 6.6 percent from a year ago. Condo listings are up nearly 13 percent.
Falls Church remains the region’s most expensive housing market by jurisdiction, with a median price of $736,700 in November, up 0.2 percent from a year ago. Arlington ranks No. 2, with a median price in November of $569,000, follow by the District, at $548,000.
November sales volume across the region totaled a little less than $1.7 billion, up 14.3 percent from November 2014.
Want to talk about how these numbers and statistics affect your real estate buying, selling, investing plans? Give us a call at DC Metro Home Sales.