The Long & Foster Market Minute

Focus On: Washington DC Housing Market September 2021

Units Sold
677
Active Inventory
2,189
Median Sale Price
$610,000
Days On Market
28
Down -28%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 22%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 677 sold this month in Washington DC Real Estate versus 883 last month, a decrease of 23%. This month's total units sold was lower than at this time last year, a decrease of 28% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 190 units or 10%. The total number of active inventory this September was 2,189 compared to 1,999 in September 2020. This month's total of 2,189 is higher than the previous month's total supply of available inventory of 1,731, an increase of 26%.

Median Sale Price
Last September, the median sale price for Washington DC Homes was $642,500. This September, the median sale price was $610,000, a decrease of 5% or $32,500 compared to last year. The current median sold price is 6% lower than in August.

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


New Listings
1,843
Current Contracts
874
Sold Vs. List Price
100.6%
Months of Supply
3.2
Up 14%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 53%
Vs. Year Ago

Months of Supply
In September, there was 3.2 months of supply available in Washington DC, compared to 2.1 in September 2020. That is an increase of 53% 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 1,843 homes newly listed for sale in Washington DC compared to 1,615 in September 2020, an increase of 14%. There were 874 current contracts pending sale this September compared to 943 a year ago. The number of current contracts is 7% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Washington DC was 100.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 28, higher than the average last year, which was 23, an increase of 22%.

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.