The regional housing market in 2018 is, in many ways, continuing the narrative that began in 2017.
Bright MLS’s latest monthly report out today shows that region wide home prices hit a decade high for January, rising by 2.5 percent year-over-year to a median of $399,900. This uptick represented the 16th consecutive month of year-over-year price increases in the DC area.
Despite there being slightly fewer closed sales in January 2018 compared to last January, overall inventory fell by 14.8 percent, making for the lowest number of listings on the market since January 2013. Fairfax was the lone jurisdiction where active inventory rose from year to year.