Local Real Estate Market Update – May 2024
Looking at complete data for April, we compared data for 20002 and 20003 to all of Washington DC to get a sense for where we are versus one year ago in terms of median sales price, inventory, and days on market.
Across the board, median sold prices are higher (row 1), and with the exception of a 1-day drop in 20002, days on market have increased (row 2). As inventory increases (note the increase in new listings across DC and Capitol Hill in row 3) and mortgage rates persist in the 7% range, many buyers are taking their time to make purchase decisions. But not all buyers! The home pictured above in 20003 went under contract after just one weekend of showings.
Curious about a move-up (don’t miss our featured listing – scroll to the end), an investment property or a sale? Reach our team today for a private consultation to discuss the state of the market on YOUR block or in your interest area.
If you are thinking about purchasing your first or next home, attend our JUNE HOME BUYER SEMINAR with Paul Legere on June 22nd.
Thinking about Buying? Selling? A move-up? An investment property? See our current listings here.
Try our Tools to Get Started
What’s My Home Worth?
Find My Dream Home
We’d love to share our Real Know-How with you!
Call 202.243.7707 to set up a FREE CONSULTATION today!
We study the data, so you don’t have to…