November 2021 Market Snapshot

1. Washington, DC Metro (in various colors)
2. Condos & Co-ops (in yellow)

The median sold price for Condo & Coop properties for November was $300,000, representing an increase of 3.4% compared to last month and an increase of 5.8% from Nov 2020. The average days on market for units sold in November was 30 days, 24% below the 5-year November average of 39 days. There was a 17.1% month over month decrease in new contract activity with 2,906 New Pendings; a 10.8% MoM decrease in All Pendings (new contracts + contracts carried over from October) to 4,223; and a 15.8% decrease in supply to 4,431 active units. This activity resulted in a Contract Ratio of 0.95 pendings per active listing, up from 0.90 in October and an increase from 0.84 in November 2020. The Contract Ratio is 46% higher than the 5-year November 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.