October 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
October was $290,000, representing a decrease of 1.7% compared
to last month and an increase of 1.8% from Oct 2020. The average
days on market for units sold in October was 29 days, 25% below the
5-year October average of 38 days. There was a 7.5% month over
month increase in new contract activity with 3,505 New Pendings; a
2.7% MoM increase in All Pendings (new contracts + contracts carried
over from September) to 4,736; and a 7.2% decrease in supply to
5,262 active units.

This activity resulted in a Contract Ratio of 0.90 pendings per active
listing, up from 0.81 in September and an increase from 0.79 in
October 2020. The Contract Ratio is 43% higher than the 5-year
October average of 0.63. 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.