What's Hot: Have Rising Interest Rates Affected Your Housing Search? | A $10,000 Incentive & the Final Chance to Buy at The Parks’ First Condominium
$570,000: DC Home Prices Remain at Record Highs in July

A Capitol Hill home that sold for $60,000 above its asking price last month.
Home prices in DC proper maintained their record highs last month as sales volume for the region dropped for the first time in almost two years.
The median sales price for a home in DC in July was $570,000, according to the latest monthly report from RealEstate Business Intelligence. Coupled with a $570,500 median in May, July’s price point represented the highest median on record for the city. In comparison, the median price for the DC region came in $125,000 lower at $435,000.
While prices remained high in the District, sales volume dropped off in the area. Closed sales clocked in just above 5,000 last month, a 3.4 percent drop compared to last July and the first time since November 2014 that sales fell on a year-over-year basis.
story continues below
loading...story continues above
Despite a lower sales volume, the inventory of homes in the region continued its decline for the third straight month, further confirmation of Elliot Eisenberg’s prediction from the beginning of the year. New listings dropped 8.6 percent compared to July 2015, and 17 percent versus last month. The overall active inventory in the area sat just below 11,000, a 13 percent drop from last year.
See other articles related to: realestate business intelligence, dc housing prices, dc housing inventory, dc home sales, dc home prices, dc home and condo prices
This article originally published at http://dc.urbanturf.com/articles/blog/570000_dc_home_prices_remain_at_record_highs_in_july/11544
Most Popular... This Week • Last 30 Days • Ever

DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »

The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »

A look around DC to find the most equity-rich neighborhoods.... read »

Just a month after setting a new high in March, the value of a house in DC skyrockete... read »

The National Capital Planning Commission will consider approval of the final master p... read »
- First-Timer Primer: DC's Home Buyer Assistance Programs
- Rendering Revealed for One of the Largest New Residential Developments in Friendship Heights
- Where Are People House-Rich in DC?
- $1.4 Million: The Price for a House in DC Hit a New High in April
- The Massive Development at DC's Armed Forces Home Looks to Get Key Approval in June
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro