Despite another month of record home prices in the D.C. metro area, homes continue to sell at the fastest pace on record.
Listing service Bright MLS reports the median price of a home that sold in the D.C. region in April was $550,000, an all-time high. Homes that sold last month went under contract in an average of just six days, an all-time low. The number of pending sales — or contracts signed but sales not yet closed — was up 74% from April 2020.
The housing market slowed significantly at the start of the pandemic last spring, though it recovered quickly in the following months.
There is also more for potential buyers to look at, with more sellers deciding to jump into the market. New listings on the market were up almost 73% from the number of new listings in April 2020.
Highlights from around the metro area include Bethesda, Maryland, where single-family homes hit a record median price of $1.35 million. And across Montgomery County, the median selling price topped $700,000 for the first time, at $732,100.
Fairfax County, Virginia, home prices rose for the third straight month to another new 10-year high.
Condo sales set a new monthly record, with buyer demand for higher-priced condos up 12%. In the District itself, condo and co-op sales hit a new high for the second month straight. In Dupont Circle’s 20009 ZIP code, a record 110 condos sold in April.
Below are snapshots of sales activity and prices around the D.C. region this April. Data is provided by MarketStats by ShowingTime based on listing activity from Bright MLS: