May 31, 2016 | Isabella Schnider

The latest data shows that the 2016 home buying season is in full swing, with homes in April moving 8 percent more quickly than last year, even as asking prices continue to hit new record highs.

Washington D.C. Metro Area closed sales over the last six-months

Median age of inventory in April ended at 67 days, down 8 percent year-over-year and down 9 percent from March. Median listing price for April reached a record high of $247,300; a nine percent increase year- over-year and a three percent increase month-over-month. Listing inventory in April showed a three percent increase over March. However, inventory decreased three percent year-over-year.

In Washington DC, the median sold price for Detached properties for April was $770,000, compared to the median sold price for Condo & Coop properties which was $438,250. In April, the median sold price for Detached properties increased 18.6% compared to last month, and decreased 12.5% from April 2015. The median sold price for Condo & Coop properties increased 3.9% compared to last month, and 3.1% from April 2015.

In Fairfax County, the median sold price for Detached properties for April was $630,000, compared to the median sold price for Condo & Coop properties which was $259,850. In April, the median sold price for Detached properties increased 4.1%, compared to last month and increased 0.8% from April 2015. The median sold price for Condo & Coop properties decreased 3.8% compared to last month and 3.7% from April 2015.

In Arlington County, the median sold price for Detached properties for April was $765,000, compared to the median sold price for Condo & Coop properties which was $385,000. In April, the median sold price for Detached properties increased 1.3% compared to last month and decreased 6.1% from April 2015. The median sold price for Condo & Coop properties had no change in price from last month and decreased 1% from April 2015.

The Consumer Confidence Index hit 94.2 in April, according to The Conference Board. That’s lower than the 96 expected by Thomson Reuters consensus estimates.”Consumer confidence continued on its sideways path, posting a slight decline in April, following a modest gain in March,” said Lynn Franco, director of economic indicators at The Conference Board. Consumers had mixed views of current economic conditions, but were overall less hopeful for the future, the survey showed. “Consumers’ assessment of current conditions improved, suggesting no slowing in economic growth,” Franco said. “However, their expectations regarding the short-term have moderated, suggesting they do not foresee any pickup in momentum.”

Source: Realtor.com, RBI, Conference Board Consumer Confidence Index

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