January was a good month for both sellers and buyers in the D.C.-area market, with prices hitting a January high, and contracts signed to buy a home at the highest level in a decade.
But Arlington County, Virginia’s housing market slowed.
Regionwide, the median price of a house or condo that sold in January was $444,000, up 5.7% from a year ago and the highest January price on record, according to listing service Bright MLS. It was the 40th consecutive month for year-over-year price increases.
New pending sales — or contracts signed to buy a home but sales not yet closed — rose 4% after two months of declines.
More sellers came to market last month, with new listings up for the second month in a row, by 7.8%, though active listings were still down 14.8%.
Arlington County was the only jurisdiction in the region to see the median price of what sold fall, down 5% to $585,000, though that was the highest median price in the region.
The number of Arlington sales was also down 11.5% from a year ago.
Montgomery and Prince George’s counties in Maryland led the region for gains in year-over-year sales — up 26.5% and 15.1%, respectively.
Below is a snapshot of D.C.-area home sale prices in January, courtesy of Bright MLS.
