“There is very good news in the November statistics for the close-in Metro area, with a 20% increase in dollar volume of sales, a 7% increase in average price and a 6% reduction on days on the market. We haven’t seen numbers up this high over last year in many months, and it bodes well for the coming spring market.
Once again, the leader in the three jurisdictions we track was the District of Columbia with a 26.5% increase in dollar volume of sales, a 9.8% gain in average price and an 18% reduction in days on the market. With its shortage of inventory and continuing high demand levels, the District continues to have the most successful real estate market in our area.
*Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, D.C.; Montgomery County, Maryland; and Fairfax County, Arlington and Alexandria in Northern Virginia.”