DC-area home prices hit 10-year high

The median price of a house or condo sold in the D.C. metro area in April was $475,000, up 5.6% from a year ago — and the highest overall monthly median sales price in the last decade.

It was also the 31st consecutive month of year-over-year price appreciation.

Listing service Bright MLS says falling sales have reversed course as well. Total volume was $2.8 billion in April, up 5.9% from a year ago.

Closed sales were up 3.3%, the first time year-over-year they rose since last July, and closed sales throughout the D.C. metro region in April were the highest that month has seen in a decade.

Pending sales — in which contracts have been signed but the sales have not yet closed — were up 1.1%.

Even so, with more sales and fewer new listings, the D.C. area ended April with just 7,535 active listings, down 12.9% from last year.

Sellers got, on average, 99.3% of list price in April, easily the highest level of the last decade, according to Bright MLS.

Below is a chart, courtesy Bright MLS, of April sales activity in the capital region, by jurisdiction:

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