DC-area home prices hit record high, listings hit 6-year low

July 11, 2019

Washington-area homebuyers are facing the leanest number of listings since June 2013, even as the median price of what sold in June reached an all-time high.

Nowhere in the region are choices for potential buyers down more than in Amazon HQ2’s backyard, where listings in Arlington County and Alexandria in Virginia are down 27.1% and 24.6% from year-ago levels.

Listing service Bright MLS says the median price of a house or condo that sold metro-wide in June was $490,000, the highest on record for the region, and up 4% from a year ago.

It was the 33rd consecutive month of year-over-year price appreciation.

Inventory levels, or the number of homes for sale, fell for the fifth consecutive month. Overall inventory levels were down 13.3% and new listings that came on the market declined by 7%.

What did sell, sold for an average 99.1% of the original list price, the highest list-to-sale level in six years.

The D.C. region’s median home sale price is now 38.4% above the most recent low from June 2010.

Below is a snapshot of June sales activity by jurisdiction, courtesy of MarketStats by ShowingTime based on listing activity from Bright MLS:

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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