Home Sales Are Up...Prices Are Leveling
February saw the largest increase in number of contracts signed in the DC Metro area in more than a decade.
There was a 33% increase in pendings (contracts signed) over last February. 4044 contracts were signed compared to 3041 in February 2010.
The median sales price for the metropolitan region declined 2.9% to $300,000. It was $309,000 in February 2010.
The absorption rate is down to 3.3 months, from 4.3 months this time last year. The average home is taking 3.3 months on the market before getting a contract.
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119