Highest Annual Gain in Median Sale Price in DC Metro since January 2006
Posted on May 10, 2012 by Corey Hart
May

10

2012

Shrinking Overall Supply and Declines in Foreclosures Continue Recent Trends

Rockville, MD –(May 10, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the April 2012 RBI Pending Home Sales Index™ released today.

 

Click here to view PDF version of the DC Metro housing analysis

OVERVIEW

Pricing in the DC Metro Area continued recent positive trends with a year-over-year Median Sale Price gain of 11.2 percent, the highest annual gain in over six years. Active inventory remains low compared to demand, with only 3.2 months of supply. This not only put upward pressure on pricing, but resulted in significant declines in Days on Market prior to sale and the percent of Original List Price discounted at settlement. Traditional listings, or those not involving a short sale or foreclosure, represented the highest proportion of closed sales since the foreclosure wave was at its peak. While new contract activity was up 9.5 percent over April 2011 levels, the percent change vs. last month was well below normal seasonal patterns.

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Comments: 4 |
DC Metro Area, market analysis, press release
Largest Annual Increase in Sale Prices in the Baltimore Metro Area since April 2006
Posted on May 10, 2012 by Corey Hart
May

10

2012

Lowest April Inventory since 2006; Only One in Ten Sales Involves Foreclosure

Rockville, MD –(May 10, 2012) – The following analysis of the Baltimore Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the April 2012 RBI Pending Home Sales Index™ released today.

Click here to view PDF version of the April analysis

OVERVIEW

The Baltimore Metro Area housing market saw the largest year-over-year gain in sale prices since April 2006, with a median sale price of $237,500 representing a 10.5 percent increase over April 2011. Contract activity was up 9.9 percent year-over-year, though down 3.8 percent from March 2012 levels. Active inventory is down to 12,627 listings and while this represents the lowest April level since 2006, there is a solid balance between supply and demand with 6.8 months of inventory based on the average sales rate of the last twelve months. With a Median Days on Market of 64 days representing a 29-day improvement over April 2011, properly priced homes are selling at a faster pace than last year.

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Baltimore Metro Area, market analysis, press release
Phoenix Homes are More Expensive than DC Homes...Huh?
Posted on May 03, 2012 by Corey Hart
May

03

2012

We happened upon this article via Twitter yesterday: Phoenix Finds Its Way Out of the Downturn: A Model for Recovery, which discusses the recent turnaround in several key indicators in the Phoenix Market. Since RBI recently partnered with ARMLS (the MLS out there), it was of obvious interest. Most of the DSNews.com piece appears pretty solid - the trends described matched up relatively well with the trends we're seeing in the ARMLS data (see a few related charts at the end of this post). Their "Phoenix Metro" isn't an exact match to our "Phoenix" aggregate, so no need to nitpick if the reported stats aren't 100% identical to our figures. But then a non-MLS data source was thrown into the mix, highlighting the pitfalls of what MRIS has recently referred to as TMBI (Too Much Bad Information):

"The average price per square foot for homes in Phoenix during the first quarter of this year was $956, according to the online real estate marketplace Trulia. That’s an increase of 999.9 percent compared to the same period last year."

Wait a second...the average price per square foot for a home in Phoenix is (way) higher than any ZIP code in the DC Metro Area?? Number One on our Q1 Top 10 $/SqFt List was Georgetown (20007), which averaged only $601 per SqFt. We decided to head to the source of this $956 Phoenix figure, and sure enough, here is the Trulia chart:

 

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market analysis, price per square foot
Three Consecutive Months of Year-Over-Year Improvement in Key Metrics for DC Metro Area
Posted on May 03, 2012 by Corey Hart
May

03

2012

Three consecutive months of positive year-over-year change for a variety of key indicators in the DC Metro region. Hover over any of the bars to compare the figures. Let's hope these trends continued into a fourth consecutive month. Stay tuned...April stats to be released next week (on the 10th at 10AM).

 

Click here to see our full DC Metro March analysis published on the 10th of April.

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days on market, DC Metro Area, market analysis
Median Sale Prices in the Greater DC Area - Top 10 ZIP Codes in 1st Quarter
Posted on April 18, 2012 by Corey Hart
Apr

18

2012

Part II of our deep-dive into ZIP Code data for the 1st quarter of 2012 for the Greater DC Area looks at leading ZIP codes according to Median Sale Price trends, including:

  • Most Expensive ZIP Codes by median sale price
  • ZIP Codes with Biggest Jump in median sale price (YoY)
  • Most Affordable ZIP Codes by median sale price
  • ZIP Codes with Biggest Dip in median sale price (YoY)

 

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DC Metro Area, market analysis, median sale price, quarterly reports

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