April 2021 Real Estate Update

April 2021 Marketplace Performance

Data as of May 6, 2021

Median Sales Price

  • The D.C. Metro median sales price hit a new monthly record of $550.0K. Prices rose 4%{+$20K) from the previous record set in July 2020.
  • Buyers showed strong demand for luxury single-family homes (263 index). As a result, the number of homes selling for $1M+ (834) increased 18% from July 2020.
  • In Bethesda, single-family homes hit a new record of $1.35M. For Montgomery County overall, detached home median sales prices topped $700.0K for the first time {$732.1K).
  • Fairfax County home prices rose for the third straight month to another new ten-year peak. Buyer demand in the 22046 area (171 index) pushed prices to a record of $937.5K
  • In May, median sales prices typically improve 4% compared to April.

MEDIAN SALES PRICE FOR THE MONTH

D.C. METRO TEN YEAR TREND: MEDIAN SALES PRICE

Closed Sales

  • Condo sales (1,826) set a new monthly record, up 6% from March. Buyer demand for luxury condos (222 index) rose 12%.
  • In Washington, D.C., condo/co-op sales (577) marked a new high for a second straight month. In addition, the 20009 / DuPont area reported significant buyer demand (212 index), with a record 110 units sold.
  • Spring market activity ramped up in Montgomery County. Sales hit their highest level since July 2020. The ‘High’ demand ZIP code of 2087 4 in Germantown (162 index) had an April record of 92 sales.
  • May generally sees a robust rise in sales, up 15% from April. However, low inventory levels could limit gains.

CLOSED SALES FOR THE MONTH

D.C. METRO TEN YEAR TREND: CLOSED SALES

New Pending Sales

  • Upcoming sales of townhomes (1,722) hit an all-time high. However, condo/co-op new pending sales slipped -9% month to month.
  • Washington, D.C. new pending condo/co-op sales (572) pulled back -9% month to month, the first time since December. However, volume remained at April ten-year best.
  • Montgomery County’s upcoming attached home sales continued to gain this month and claimed a new ten-year high. In Rockville, new pendings in the category marked a decade best (116).
  • Typically, May’s new pending home sales are on par with April.

NEW PENDING HOME SALES FOR THE MONTH

D.C. METRO TEN YEAR TREND: NEW PENDING HOME SALES

New Listings

  • Sellers responded to solid buyer demand for condo/co-op units. A decade-high 2,705 came up for sale, 32% better than normal April levels. However, total category inventory remained at a one-month supply.
  • Alexandria City continues to see a steady rise in monthly new listings. April was a county record. Notably, new condo/ co-op listings (228) also set a ten-year peak this month.
  • Arlington also saw condo/co-op new listings (277) improve to a decade record. The 22201 continues to see a steady flow of new condo/ co-op listings, with 72 units added to the market, a new record.
  • Based on historical data, May’s new listing levels run similar to April.

NEW LISTINGS FOR THE MONTH

D.C. METRO TEN YEAR TREND: NEW LISTINGS

Median Days on the Market

  • Historic buyer demand kept the market moving. Days on the market stayed at an all-time low six days for a second straight month. Condo/co-op units (9 days) came under contract two days earlier than last month.
  • Prince George’s County saw units come under contract in a record low number of days. The 20772 experienced High buyer demand (155 index), as homes spent five days on the market.
  • Washington, D.C. units continued to move as homes left the market two days earlier than last month. The 20010 Columbia Heights area drew interest with High demand and new low six days on the market.
  • Generally, days on the market for May stays steady with April.

MEDIAN DAYS ON THE MARKET

D.C. METRO TEN YEAR TREND: MEDIAN DAYS ON THE MARKET


About the DC Metro Housing Market Update

The DC Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in Showing Time’s proprietary database. The DC Metro Area housing market includes: Washington, D.C., Montgomery County and Prince George’s County in Maryland, and Alexandria City, Arlington County, Fairfax County, Fairfax City, and Falls Church City in Virginia. \

Data provided by MarketStats by Showing Time, based on listing activity from Bright MLS.

About Bright MLS

The Bright MLS real estate service area spans 40,000 square miles throughout the Mid-Atlantic region, including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C. and West Virginia. As a leading Multiple Listing Service (MLS), Bright serves approximately 95,000 real estate professionals who in turn serve over 20 million consumers. For more information, please visit www.brightmls.com.

Bright MLS Media Contact

Christy Reap
Internal Communications and Media Relations Director
202-309-9362
Christy.Reap@brightmls.com

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