These real estate markets reported record-setting activity in 2020, despite enduring a weaker spring market due to social distancing protocols.
The following analysis of the Washington, D.C. Metro housing markets has been prepared by Bright MLS and is based on December 2020 Bright MLS housing data.
- In 2020, the total sales dollar volume for the D.C. metro reached $34.6 billion (+11.7%).
- Total sales volume for the year (57,266) ended up 3.3%. Seven months of the year marked ten-year monthly highs.
- New listing volume was essentially flat with 2019. Combined with strong buyer demand, it created the region’s tightest market on record.
- The year saw buyers snap up homes across the metro area, as days on the market fell into the single digits for the first time (nine days).
- In December, new pending sales showed an unprecedented year-over-year growth, up 30.3% in a traditionally slow month. It was the best gain for any month in the past ten years.