Real estate sales in the D.C. region are on the up
A new wave of sales is driving the sale of homes and apartments in the nation’s capital.
The D.U.C., a new real estate portal that allows users to compare prices across cities and states, reported sales in March and April of $16.7 billion, up from $15.6 billion in February and $13.8 billion in March.
The biggest increases in sales were in the suburbs of the District, where sales totaled $8.3 billion, and the Northwest, where they totaled $6.9 billion.
In some markets, sales jumped even more.
In Arlington, the median sale price was up $1,000 to $838,000, a 28% increase.
Sales in the District and Arlington were up 33% and 27%, respectively.
The median sale prices in the metro areas of Fairfax, Virginia, Alexandria, Virginia and Montgomery, Maryland, rose 8% and 15%, respectively, in the past 12 months.
The Northwest saw the biggest gain, up 16% to $2.9 million, while the District’s median was up 16%.
The biggest declines were in Baltimore, Maryland ($4.7 million), D.M.C.-Prince George’s County ($3.5 million), Washington, D.L.C./Washington, D.,C.C.’s (Washington, DC/Baltimore, MD), and Maryland/Maryland ($2.3 million).
The largest increase was in the Midwest, where the median price was $2,700 down $150,000 from March.
Sales were down 1% in the South.
In the Northeast, sales in April were down 9% from a year ago.
Sales declined 8% in Los Angeles and 6% in New York.
The D.R.U., the DCCC and NANTEC, the real estate website that runs the portals, said the numbers are consistent with a surge in the number of properties sold over the past year.
It said that since the beginning of 2018, more than 8.5 billion dollars worth of properties have been sold in the U.S. that are available for purchase.
Nantucket Real Estate announced in April that it had sold a total of 1.5.3 homes in the Northeast for an average price of $1.6 million, and its listings in D.B.C.: $2 million, $2 for $1 million and $3.7 for $2-$2.7.
The website says it expects to open additional listings in the coming weeks.
Nantucket has been a hot spot for home sales in recent years, particularly in the Northwest.
Last year, Nantucket reported $1 billion in sales.
The portal said that during the March-April period, sales reached $3 billion in D,C.
and $4 billion in Maryland, with a median sale of $8,700.