Home | Newsletter | Advertise
loading...

As DC-Area Home Prices Hit Record in October, DC Home Sales Shot Up

  • November 12th 2019

by UrbanTurf Staff

A home that sold in Takoma Park in October.

DC-area home prices were much higher last month than a year ago.

The median home price of $460,000 in October was the highest for the region for the month in more than a decade, according to the latest monthly report from Bright MLS. Prices rose 8 percent or $33,525 year-over-year, the largest annual gain in the area since December 2013. 

The high prices didn't put a damper on home sales. Closed sales were up 9.3 percent annually, the second consecutive month of almost double-digit gains. The sales pace put a dent in the active supply of homes for sale, with inventory down to 8,495 homes, the lowest level for October over the last decade. 

While the region saw home prices head north, DC prices went in the opposite direction, dropping 4 percent between October 2018 and October 2019 to $578,858. The price drop seems to have accelerated sales however, as the city saw the largest percentage increase in homes to go under contract, an increase of 15 percent year-over-year. 

This article originally published at https://dc.urbanturf.com/articles/blog/as-dc-area-home-prices-hit-record-in-october-dc-home-sales-shot-up/16129.

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. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse