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6 Days to $600,000: The 5 Most Important Stats From the May Housing Market

  • June 14th 2023

by UrbanTurf Staff

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1014-north-c .jpeg
A Capitol Hill home that sold in May.

The story in the housing market in the DC area in May didn't change much. Despite high interest rates and high home prices, competition amongst buyers remains a constant due to a low inventory of homes for sale. With the Fed likely pausing any rate hikes for the rest of the year, it will be interesting to see if buyers come out of the shadows as predicted by Bright MLS earlier this week.

 Below we plucked out some of the more telling statistics from last month's market. 

  • $600,000 -- The median price for a home in the DC area in May, the highest in the Mid-Atlantic. 
  • $660,000 -- The median home price in DC, up 1.5% compared to last May. 
  • 5,563 -- The number of new listings to come online in May, down 36% compared to May 2022. 
  • 1.23 -- The monthly supply of active listings in the DC region.
  • 6 -- The median number of days that homes spent on the market in May in the region. 

See other articles related to: dc housing market, dc housing market trends

This article originally published at https://dc.urbanturf.com/articles/blog/6_to_600000_the_5_most_important_stats_from_the_may_housing_market/21136.

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