DC-area home prices reach record high; sales up, too

Potential homebuyers in the D.C.-area market continue to have less to look at, but prices have reached a record high, and sales bounced back in July.

Listing service Bright MLS said the median price of a house or condo that sold in the D.C. metro area last month set a new monthly record, up 3.3% to $470,000. That is also the 34th consecutive month of year-over-year price appreciation.

Closed sales in July, properties that likely went under contract in May or June, totaled 5,282, up 1.1% and the highest July level for closings in a decade.

Pending sales, or contracts signed, also rose 3.2% after two consecutive months of declines.

New listings fell 5.2% and the number of overall active listings across the Washington region was down 17.9%, to a 10-year July low.

Sellers in the Washington area got, on average, 99.1% of list price, up slightly from last July.

Below is a market snapshot of Washington-area sales by jurisdiction, courtesy of MarketStats by ShowingTime based on Bright MLS data:

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