No January dip for DC-area housing market

Single-family homes and condos across the D.C. continue to sell quickly. (Getty Images/iStockphoto)

The D.C.-area housing market continues to defy traditional trends, with the median price of what sold in January matching December levels. January prices typically dip by 5%.

The median price of what sold across the metro area last month — $487,900 —  was up almost 10% from a year ago and is the highest median price for a January sale on record, according to listing service Bright MLS.

The city of Falls Church in Virginia remains the most expensive housing market, by official jurisdiction, with a median price of $820,000 last month. But among larger jurisdictions, Virginia’s Arlington County remains the most expensive, at $600,000 last month.

Condo and co-op sales remains strong, with sales volume in January up 32.6% throughout the D.C. region. Maryland’s Montgomery County saw its highest year over year growth for condo sales on record, up 51%. Condo and coop sales in the District were up 25.7% from a year earlier.

Single-family homes and condos continue to sell quickly, with the average number of days on the market before an accepted contract of 15 days, an eight-year low.

Below is a snapshot of sales prices throughout the D.C. area and historical comparisons. Data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS:

(Courtesy Bright MLS)

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up