The Long & Foster Market Minute
Focus On: Washington DC Housing Market June 2017
Units Sold
912
Active Inventory
1,630
Median Sale Price
$590,000
Days On Market
23
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -3%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -12%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in June, with 912 sold this month in Washington DC Real Estate versus 952 last month, a decrease of 4%. This month's total units sold was lower than at this time last year, a decrease of 3% versus June 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 80 units or 5%. The total number of active inventory this June was 1630 compared to 1,710 in June 2016. This month's supply remained stable as compared to last month.

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Median Sale Price
Last June, the median sale price for Washington DC Homes was $557,250. This June, the median sale price was $590,000, an increase of 6% or $32,750 compared to last year. The current median sold price is 1% lower 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.

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New Listings
1,350
Current Contracts
970
Sold Vs. List Price
100.1%
Months of Supply
1.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 23%
Vs. Year Ago
Up 16%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago
Months of Supply
In June, there was 1.8 months of supply available in Washington DC. The amount of supply is similar compared to 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.

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New Listings & Current Contracts
This month there were 1,350 homes newly listed for sale in Washington DC compared to 1,099 in June 2016, an increase of 23%. There were 970 current contracts pending sale this June compared to 838 a year ago. The number of current contracts is 16% higher than last June.

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Sale Price to List Price Ratio
In June, the average sale price in Washington DC was 100.1% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 26, a decrease of 12%.

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*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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.