DMV Market Stats – March 2018

by Keri Shull

Breaking Down the Latest Market Data for Real Estate in Arlington, Virginia and the Greater Washington DC Area

Learn how the real estate market in Arlington, Virginia and the overall Greater DC Metro area is shaping up from March 2018.  Presented by Buyer Advocate Agent, Bryan Sholl from the Keri Shull Team.

Arlington

Key Takeaways

  • 392 new listings:
    • Up 33% from last month, but down 12% compared to last year
  • $564k median sold price: 
    • 6% higher from last month, and 11% higher compared to March 2017
  • 234 units sold:
    • Down 7% from last year, down 7%
  • 38 average days on market:
    • Compared with 55 last March. 

DC

 

Key Takeaways

  • 7,583 new listings:
    • Up 42% from last month, but down 7% compared with March 2017
  • $435k median home price
    • Up 6% form last month, and up 3.6% from March 2017
  • 4,638 units sold 
    • down 5% from last year
  • 44 Average days on market
    • Down 12% from 50

 

As the summer is approaching, so the market is improving from earlier in the year. However there still appears to be no signs of increase regarding the low inventory. We’re still near at 5-year low throughout the entire DC area!  This is reflected in the raising prices and waning days on market, as buyers in need are becoming more and more anxious about waiting to buy. 

Listings by the average Keri Shull Team Agent spend an average of just 38 days on the market – considerably lower than market averages.

For any questions, please don’t hesitate to reach us by calling/texting us at 703-436-2191 or by emailing us at contact@kerishullteam.com

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