WASHINGTON — More potential homebuyers in the Washington metro area found what they wanted and signed on the line to buy last month, even as prices on sales that closed declined.
RealEstate Business Intelligence says the number of contracts signed to buy a house or a condo throughout the Washington metro area in February was the highest monthly total since at least 2007 and up 11 percent from a year ago. The number of pending condo sales was up 13.8 percent from a year ago.
RBI says the median metro wide selling price of a sale that closed in February was $380,000, down 2.6 percent from a year ago. February was the third month in a row that overall prices have declined on a year-over-year basis.
Even with the decline, prices still remain 4.5 percent above the 5-year average and 8 percent above the 10-year average.
Across the metro area, median selling prices are now 26.7 percent above the $300,000 crisis lows set in 2009 and then again in 2011.
Below is an infographic from RealEstate Business Intelligence showing median selling prices in February by jurisdiction.