The Long & Foster Market Minute

Focus On: Washington DC Housing Market June 2021

Units Sold
1,123
Active Inventory
1,732
Median Sale Price
$700,000
Days On Market
23
Up
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 1,123 sold this month in Washington DC Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 103 units or 6%. The total number of active inventory this June was 1,732 compared to 1,629 in June 2020. This month's total of 1,732 is higher than the previous month's total supply of available inventory of 1,718, an increase of 1%.

Median Sale Price
Last June, the median sale price for Washington DC Homes was $618,305. This June, the median sale price was $700,000, an increase of 13% or $81,695 compared to last year. The current median sold price is 2% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
1,607
Current Contracts
1,063
Sold Vs. List Price
102.0%
Months of Supply
1.5
Up 25%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In June, there was 1.5 months of supply available in Washington DC, compared to 2.0 in June 2020. That is a decrease of 24% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 1,607 homes newly listed for sale in Washington DC compared to 1,287 in June 2020, an increase of 25%. There were 1,063 current contracts pending sale this June compared to 987 a year ago. The number of current contracts is 8% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Washington DC was 102.0% of the average list price, which is 3.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 27, a decrease of 15%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.