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.

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