The 3,871 sales last month were 2.3 percent higher than October 2014 and nearly 10 percent higher than the five-year average for the month. More than 41,000 homes have sold this year, which is nearly 900 more sales than 2013 and nearly 3,600 more sales than 2014.
Home prices continue to moderate. The median price for the D.C. region dipped slightly last month to $399,000, the first time since February it has fallen below $400,000. Since March, the monthly year-over-year price growth in the D.C. area has hovered between 2.6 percent and minus-1 percent.
Homes lingered on the market a bit longer last month. The median days on market crept up to 27 days, three days longer than in October 2014. Homes are selling fastest in the District (11 days) and slowest in Fairfax City (42 days).