1 in 10 homes on the market in DC area priced over $1 million

WASHINGTON — Sales activity at the very high end of Washington’s housing market slowed in July, but 11.17 percent of all listings on the market last month were million dollar-plus listings.

Long & Foster’s LuxInsight report says closed sales in the seven-figure price category were down 10.4 percent from last July. The number of new seven-figure listings was also down 10.4 percent, and the median price among seven-figure listings was $1.275 million, 1.8 percent less than a year ago.

At the end of July, there were 2,439 listings priced at $1 million or more in the Washington region.

The region’s priciest properties generally take longer to sell, but not always.

The number of days that seven-figure listings stayed on the market before selling last month ranged from 118 days to a Bethesda property that was on the market just one day before getting a $1.9 million full-price offer.

The total dollar volume of seven-figure sales totaled $552 million in July, 13.1 percent lower than a year ago.

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