2015 DC Real Estate Sales Annual sales reach the highest level since 2006; Prices gain only 1 percent for second straight year, but remain 24 percent higher than 2009’s bottom levels.
- 2015’s median sales price ended up at $410,000, marking only a 1.1 percent gain from 2014. Despite flat growth, prices are only 1.2 percent down from 2007’s peak levels.
- Sales in 2015 were very strong, with year-over-year gains seen in every single month. Ultimately, the 50,528 cumulative sales marked a 9.4 percent increase over 2014.
- Seller activity picked up consistently through the year and the 73,733 cumulative listings added over the course of 2015 were 8.5 percent more than the number added in 2014.
- After rising to a peak year-over-year increase of 34.6 percent in August 2014, inventory growth has steadily declined in 2015, ending the year at 8,644 listings, which is only 4.6 percent higher than at the end of 2014. Inventory growth will likely be negative in 2016.
- Half the homes sold in 2015 were on the market 22 days or less, a two-day increase compared to 2014, but remaining well below both the 5 and 10-year averages.
- The average percent of original list price received at sale has remained relatively steady over the last several years, dropping only slightly in 2015 to 97.3 percent.
- The regional median price of $410,000 in 2015 was 1.1 percent higher than last year. While the gain was relatively low, it marked the sixth straight year of gains since the 2009 bottom.
- Regional pricing levels are now 23.7 percent above the $331,500 bottom of the market in 2009, and only 1.2 percent off the $415,000 peak in 2007.
- Despite being the only area where price levels dipped slightly, Falls Church remained the most expensive location with a 2015 median sales price of $690,000.
- Prince George’s County has seen the highest year-over-year appreciation of 6.3 percent, although it remains the most affordable area in the region with a 2015 median price of $235,000.
The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on year-end 2015 MRIS housing data.