DC-Area Home Prices Top $680,000 For The First Time In May

• June 10th

by UrbanTurf Staff

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Home prices in the DC area reached a new record high in May, with the median price climbing to $680,000 — and for buyers in the single-family market, the competition isn't letting up anytime soon.

The new record, from a Bright MLS report out today, was driven largely by the detached home market, where the median price climbed to $900,000, up nearly 6% compared to May 2025. Alongside the new price record, home sales surged with 5,207 transactions recorded in May, an 8.7% jump year-over-year.

The story behind the record price is a familiar one: not enough houses. Single-family detached inventory across the region currently sits at just 55% of 2019 levels, and sellers showed little urgency to change that in May — new listings fell 4.9% compared to a year ago. The result is a market where the typical single-family home sold in just six days. 

The picture looks meaningfully different for other property types. Townhome inventory has recovered to roughly pre-pandemic levels, and the condo market has pushed well above them — with active condo listings up nearly 18% year-over-year. That expanding supply is keeping a lid on prices in both segments: the metro-wide median for townhomes held flat at $625,000, while condos also came in unchanged at $399,000. Buyers in those markets are finding more options and more negotiating room.

"The Washington D.C. metro area is a tale of two markets. Higher-income buyers are putting upward pressure on the single-family market, as inventory remains low and prices continue to rise. There are fewer first-time and moderate-income buyers. Buyers who are in the market will have more leverage in the townhome and condo markets, where inventory is expanding."

This article originally published at https://dc.urbanturf.com/articles/blog/dc-area_home_prices_top_680000_for_the_first_time_in_may/24715.