Home | Newsletter | Advertise

As the DC Area Housing Market Went One Way in September, the DC Market Went Another

  • October 11th 2019

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

A Bethesda home that sold in September.

When UrbanTurf covers the local real estate market, we differentiate between the DC area housing market and the DC proper housing market. Today, the September housing report from Bright MLS illustrates the current contrasts between those two markets. 

Last month, the median home price for the DC area set a record for September ($431,000) and marked the 36th month in a row that prices have risen in the region. Despite the high prices, sales volume rose 15 percent with closed sales increasing by 9 percent. With a high volume of sales and the number of new listings essentially flat year over year, inventory levels dropped to the lowest September level of the decade, adding more fuel to the seller's market narrative in the region.

In DC proper, September home prices rose almost ten percent year-over-year to $575,000, but record prices is where the similarities with the region end. Closed sales rose just one percent in the city, the smallest gain of any jurisdiction in the region. As for supply, DC saw the largest gains in the area for new listings and total inventory. 

These statistics point to the likelihood that while the larger DC-area market remains in a seller's market, the DC market is moving decidedly in favor of buyers. 

This article originally published at https://dc.urbanturf.com/articles/blog/as-the-dc-area-housing-market-went-one-way-in-september-the-dc-market-went-/16004.

Pipeline: New Condos & Apartments Coming to the DC Area

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