Maryland Blogger

DC Metro Area Home Sales: Median Days on the Market, November, 2015

DC Metro Area Home Sales: Median Days on the Market, November, 2015

 

When you planning to purchase a home in the Metro Area of Washington, DC, it is a good idea to understand the local market conditions. During November, 2015, the median days on the market (DOM) was 25. This is a very large and fast moving market. You need to be well prepared to make timely decisions when you identify the right property and during the negotiations for a purchase. Market conditions vary greatly in the different jurisdictions and individual communities.

We recommend the use of an exclusive buyer agent to guide you through the home purchase process. 

 

“Median days-on-market (DOM) are 25, which is down three days from last year and down two days from last month.  Median days-on-market are slightly below the 5-year November average of 28 days but are well below the 10-year average of 38 days.  Townhomes continue to have the lowest median DOM of 21 days, while condos have a median DOM of 25 and single-family detached have a median DOM of 28.  Closed sales in Washington, D.C. have the lowest median DOM of 13 (down from 15 days last year), while those in Fairfax City are the highest at 52 days, up from last year’s 54, but on very small volume of 23 units.” – RealEstate Business Intelligence

 

Chrysanthemum, Brookside Gardens, Photograph by Roy Kelley, Roy and Dolores Kelley Photographs

Chrysanthemum, Brookside Gardens, Wheaton, Maryland USA IMG 7961
Photograph by Roy Kelley 
Roy and Dolores Kelley Photographs

Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

Comment balloon 5 commentsRoy Kelley • December 12 2015 12:45PM
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