A November record for DC-area home prices (but there’s still not much for sale)

Listing service Bright MLS says the median price of a house or condo that sold metro wide in June was $490,000, the highest on record for the region, and up 4% from a year ago.
Listing service Bright MLS says the median price of a house or condo that sold metro wide in June was $490,000, the highest on record for the region, and up 4% from a year ago. (WTOP/Jeff Clabaugh)

The D.C.-area housing market set a record for November selling prices, though inventory remains scarce and prices actually fell in hot Alexandria and Arlington County, Virginia.

Listing service Bright MLS says the median price of a house or condo that sold in the Washington region in November was $465,500, up 3.5% from a year ago, and a new November record.

Sales volume topped $2.2 billion, up 13.4% from a year ago, and closed sales rose by 6.1%.

But pending sales — or contracts signed but sales that have not yet closed — fell 1.9%, new listings were down 5.6% from a year ago and overall inventory levels were down 19.5%, the sixth consecutive month of double-digit declines in inventory levels.

The number of sales in Arlington County was down 12.6% from a year ago, and down 25.8% in Alexandria. And the median selling price in Arlington County, at $537,000, was down 4.9% from a year ago. The median selling price in Alexandria was $539,900, down 2.5%.

Below is a snapshot of the Washington region’s housing market in November, courtesy of Bright MLS:

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