DC-area home prices hit record high in June

Listing service Bright MLS says sales volume across the D.C. metro in April was $2.6 billion, up 9.5 percent from a year ago, reflecting both higher prices and more sales. (WTOP/Colleen Kelleher)

WASHINGTON — The median price of a house or condo that sold in the Washington metro region in June was $471,000 — up 3.5 percent from June of last year and an all-time high.

All other market indicators were down in June, and point to a continued extremely tough market for potential buyers.

Listing service Bright MLS said sales volume was down 2.8 percent from a year ago. Closed sales were down 4.1 percent. New pending sales were down 2 percent. New listings were down 5.8 percent. And active listings were down 6.4 percent from June 2017.

Sellers in June got an average of 99 percent of what they were asking and the average number of days it took for a property to sell was just 10 days.

The median price of a sale in the District itself in June topped hit $603,000, up 2.3 percent from a year earlier.

Below is a chart of sales by jurisdiction in June, courtesy of Bright MLS:

Click to enlarge

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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