Year-over-year real estate sales prices posted healthy gains but transactions were down slightly in D.C. and its inner suburbs in December, according to new data.
A total of 3,886 properties went to closing across region last month, down 3.4 percent from 4,023 transactions in December 2016, according to data reported Jan. 10 by by RealEstate Business Intelligence, based on data from Bright MLS.
(Figures represent sales in the District of Columbia; Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and Montgomery and Prince George’s counties in Maryland.)
While sales were off, average prices were rising, with the overall average price of $536,088 up 5.7 percent and increases posted in all three segments of the market: up 6.9 percent to $638,937 in the single-family segment, up 5.9 percent to $447,614 in the attached sector and up 6.1 percent to $385,351 in the condominium marketplace.
A total of 344 properties changed hands across the region for $1 million or more during the month.
Add up the sales and prices, and the total sales volume of $2.08 billion was up 2.1 percent from a year before.
At the end of the month, there were 6,734 properties listed for sale across the region, down 9.7 percent from a year before.
Where is the market headed? The number of homes coming under contract in December, and the number of pending sales, were down from a year before, suggesting it could be a soft start to 2018.
Figures represent most, but not all, homes on the market. All figures are preliminary, and are subject to revision.