Local Real Estate Market Update July 2023
THE LATEST ON THE SUMMER MARKET HERE IN DC AND ON CAPITOL HILL
Across the district, inventory accumulation shows a 2.9 months supply for July 2023 (up just a tick from 2.8 in June, and up from 2.4 in July of 2022). The chart below shows 6-months of closed sales for Capitol Hill, specifically 20002 (in blue) and 20003 (in red). As you can see, the Spring market had a slow start in March and April. It surged in May for 20002, and for 20003 in June.
CONTRACT / PENDING: 61 vs 84 in June
CLOSED: 83 vs 97 in June
IF YOU ARE THINKING ABOUT BUYING OR SELLING, acquiring an investment property, or are simply curious about your current home’s value in this market, set up a consultation with Listing Expert Joel or one of our Buyer Agents.
Pictured Above, our listing at 900 8th Street NE features a stunning patio above the 2-car garage, with glass wall walkout from chef’s kitchen!
We study the data, so you don’t have to. We’d love to share our Real Know-How with you!