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A Broken Record: The DC-Area Housing Market in May, By the Numbers

by UrbanTurf Staff

A home in Hillcrest that went under contract in May. 

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 http://dc.urbanturf.com/articles/blog/a-broken-record-the-dc-area-housing-market-in-may-by-the-numbers/18387

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