April 2013 Washington DC real estate market data shows homes are selling at a pace not seen since 2008. To the excitement of sellers and the frustration of home buyers, home prices are way up and average days on market are down.
According to statistics released today from RBI, Inc, an MRIS company, homes prices in the Washington DC metro area are up nearly 6%, with an average sold price of $549,401. This time last year the average home price was $518,387. Homes across the area aren’t lingering on the market either. Nearly half of all the homes sold did so in 10 days or less.
Pent up buyer demand coupled with low home inventory is helping to keep the Washington DC real estate market strong. In April there were nearly 35% less homes on the market as compared to the same time last year.
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Categories: Market stats