March 2021 Housing Market Update Washington DC And Baltimore Metro

Dated: April 15 2021

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  • Demand continues to accelerate in 2021.

  • Inventory conditions have become less favorable for buyers as inventory levels continue to decline.

  • Inventory of condos continued the downward trend seen during the past several months, now at two months’ supply in March. Buyer interest in higher-priced condos remained elevated in March.

  • In another sign of the power that sellers have in the market, the March ’21 monthly median sales price ($516.0K) was $16K higher than the median list price – a ten-year record.

  • In Alexandria City, single-family home median sales prices exceeded $1M for the first time ($1.16M).

  • This month set a ten-year record for metro area condo/co-op sales (1,730), up 61% from last year’s pandemic-affected norm and 30% from the “typical” benchmark of March 2019.

  • March also saw new upcoming sales soar to an all-time high. New pending condo sales (2,077) rose to a ten-year best.

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Kelly Combs

My name is Kelly Combs and I am a native of Fredericksburg, Va., born and bred. I grew up in the 80’s when Fredericksburg was a small rural town, and I had the joy of evolving from a child to an adu....

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