Condominiums and cooperatives are selling well in the D.C. area, with the median price of a condo or coop that sold last month reaching $345,000, the highest on record for November sales.
closing volume based on total dollar amount for condo and coop sales throughout the Washington region last month was up 39.5% from a year ago.
Pending sales of condos and coops 鈥� contracts signed to buy but sales not yet closed 鈥� rose 30.3% last month, the second-largest monthly gain on record.
Closed sales were down 9.1% from the previous month, but that is lower than the average October to November dip of 13.5%.
Virginia’s Fairfax County saw median condo and coop prices reach $321,000, up 10.7% from a year ago. The median condo price in Burke was $380,000, up 20.6% from last November.
The District had the strongest area demand for condos and coops, with sales up 25.3%. There are more D.C. condos for buyers to consider, with new listings up 45.6%.
D.C. town house sales were up 26.6% from last November, with sales the strongest for a November on record. Columbia Heights marked a new peak for the month, with town house sales up 62.5% from a year ago.
Town house sales in Maryland’s Prince George鈥檚 County were up 31.7%. Town house sales in Bowie were up 88.9%.
Overall, pending residential sales in the D.C. metro were up 17.2% from a year ago, with new listings for the month up 23.5% from last November.
The median selling price of all types of residential properties throughout the metro area was $500,000, a 7.4% year-over-year increase.
Homes that sold in November sold in an average of 8 days, twice as fast as the average days on market in November 2019.
Below is a snapshot of prices of properties that sold throughout the Washington region in November. Data provided by MarketStats by ShowingTime based on listing activity from Bright MLS:
