DC-area home values up 40 percent since 2009

WASHINGTON — D.C.-area home sales hit monthly price records for November.

Listing service Bright MLS said the median price of what sold in the D.C. region in November was $449,500 — up 5.9 percent from a year ago and a record high for the month of November. The median price was also up 5.5 percent from October.

The District itself led for price gains in November, with the median price up 9.3 percent from a year ago to $600,000.

But closed sales in the D.C. region in November were down 11.8 percent from a year ago, the fourth consecutive month of declining year-over-year sales. Pending sales were also slightly lower.

The number of homes on the market for sale in the D.C. metro area rose for the second month in a row, up 2.1 percent to 8,812 active listings. However, new listings were little changed from a year ago.

Sellers last month got on average 97.4 percent of list price.

Home values have risen steadily since the depths of the recession. Bright MLS said the median price of a home in the D.C.-area market is 40.4 percent higher than the $320,500 price in November 2009.

Below is a market snapshot of D.C.-area sales and prices by jurisdiction compiled by Bright MLS:

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