August data is showing the region’s housing market is faring far better than it was a year ago. According to Rockville-based RealEstate Business Intelligence, home prices are rising while their time on the market is dwindling as the summer selling season nears its close.
Homes spent an average of 16.5 percent fewer days on market compared to August 2009, dropping from 97 days to 81 days. The average sold price increased by more than 3 percent over the corresponding period in 2009.
In D.C., sales increased nearly 17.5 percent over last year while homes sold for an average of $36,000 more (a 7 percent increase).
