June 2019 Washington DC Real Estate Market Update

This June in Washington, DC market activity stayed relatively neutral, with the exception of a slight decrease in units sold and active inventory.

Last month 865 units were sold, down 6% versus a year ago. This is down 11% compared to the previous month, May 2019, with 971 units sold. Active inventory was also down, with 1,620 properties on the market, down 8% versus June 2018, where there was 1,761 active inventory.

New listings were marginally down just 1%, with 1,238 new listings. Similarly contracts also marginally decreased just 1%, with 930 pending contracts this June versus 936 pending contracts in June 2018. Sold versus list price and monthly supply did not change.

The median sales price in June 2019 was $620,000, up 3% from last year’s $600,000, and up 4% from May 2019.

Though inventory was down and prices were up, properties stayed on the market a little longer. The average days on market in June 2019 were 32, up 19% from last year’ 27 days.

Source: MRIS