The housing market in the DC region last month was singing the same tune that it has been for months. Despite record home prices, buyer demand remained at an all-time high, amplifying competition and pushing inventory down.
Below, UrbanTurf plucked out some of the more telling statistics from the market last month.
- $1.24 million -- The median price for a detached single-family home in DC, up 40% compared to last year.
- 57% -- The percentage of homes that sold in ten days or less in May.
- 101.8% -- The average sales price to original list price ratio in DC, the highest monthly ratio on record.
- 1.00 -- The months of supply of active listings in the DC region in May.
- 6 -- The median number of days that homes spent on the market in the region in May.
Photo courtesy of Will Hinostroza at Photo Up.
This article originally published at https://dc.urbanturf.com/articles/blog/a-broken-record-the-dc-area-housing-market-in-may-by-the-numbers/18387.
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