Aug 2021 Market Snapshot

Washington, DC Metro (in various colors)

Condos & Co-ops (in yellow)
In Washington D.C., the median sold price for Condo & Coop properties for August was $504,950, representing an increase of 5.2% compared to last month and a decrease of 3.8% from Aug 2020. The average days on market for units sold in August was 35 days, 11% above the 5-year August average of 32 days. There was an 8.7% month over month decrease in new contract activity with 390 New Pendings; a 12.2% MoM decrease in All Pendings (new contracts + contracts carried over from July) to 506; and a 4.7% decrease in supply to 1,037 active units.

This activity resulted in a Contract Ratio of 0.49 pendings per active listing, down from 0.53 in July and a decrease from 0.65 in August 2020. The Contract Ratio is 25% lower than the 5-year August average of 0.65. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.