Home sales skyrocket, prices flatten last month in D.C. area

This year may have been tougher than usual in terms of politics, but when it comes to the housing market for the D.C. area, 2016 has been one of the strongest years since the housing boom, as reported by The Washington Post.

With data from ShowingTime RealEstate Business Intelligence (RBI), based on information from MRIS, The Washington Post reported that every month this year had year-over-year increases in home sales, save for July. In November 2016, there were a total of 3,899 sales, 16.5 percent higher year-over-year.

There were also 4,157 homes under contract, 29 fewer than November 2015. When it comes to how many listings landed on the market last month, The Washington Post reported that there were 4,264 new listings, the most for a November since 2008 and the lowest level in three years.

When it comes to sale prices, they’ve been relatively flat, though they did increase last month by 0.5 percent year-over-year to $407,000. D.C. proper’s median price was $549,000, up $1,000 year-over-year.

According to The Washington Post, one of the most affordable areas in the region is Prince George’s County, whose median price was $260,000, up $21,000 year-over-year. In Virginia, Falls Church City’s median price decreased to $548,766 from $736,700, while Manassas Park’s median price fell from $253,500 to $219,900.

For more graphs and intel, check out The Washington Post article here.

• More homes sold in the D.C. area last month than any November in the past seven years [The Washington Post]