The median price of a home that sold in the Washington, D.C. region in 2020 was $500,000 — up 8.7% from 2019, and an all-time high, according to listing service Bright MLS.
The total sales dollar volume for residential sales in the D.C. metro last year reached $34.6 billion, up 11.7% from 2019.
Prices eased modestly in December, with the median selling price of $490,000, down 2% from November.
Bright MLS expects median prices this month to decline by another 5% compared to December.
In December, there were 5,291 closed residential sales, 25% more than in December 2019.
Alexandria City and Arlington County in Virginia saw the biggest year-over-year increase in sales, up 39.2% and 33%, respectively.
Pending sales throughout the D.C. region in December — contracts signed by sales not yet closed — totaled 3,980, a 30.3% increase compared to a year earlier.
What sells, sells quickly: The average days-on-market in December was nine days, and for all of 2020, the average time it took to get a contract on a new listing was just eight days.
Below are month-over-month and year-over-year sales price comparisons in the Washington region, as well as the D.C. metro’s 10-year trend. Data provided by ShowingTime, based on listing activity from Bright MLS.