Takoma Park Real Estate Market Hits Contracts Low Point

The Takoma Park market seems to be nearing a bottom. The number of contracts executed fell to three, the lowest levels since April. Sales are also heading downward, sliding to five homes sold over the last 30 days. During the same time frame, Catholic University-Brookland county had the most of any other close-by neighborhood with 68 contracts executed. The median sales price rose dramatically to $386,000, up from last week's $271,900. Along with the increase in sales, the fact that there are a lower-than-normal two months of inventory indicates that Takoma Park is a definite seller's market.

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Data reported through 1/11/2017

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