Did the DC-Area Housing Market Cool Off in September? Yes and No
✉️ Want to forward this article? Click here.

Last September, the regional housing market was having one of its best months on record. In the middle of a pandemic, homes were flying off the market in a matter of days despite record prices. Fast forward a year, and the market has slowed from that fever pitch.
But it would be inaccurate to say that the region is now experiencing a slow market.
The latest report from Bright MLS shows that pending home sales and home showings last month were down year-over-year in almost every local jurisdiction. However, if you compare last month's numbers to September 2019, they were up noticeably.
story continues below
loading...story continues above

"The last time the housing market was as hot as last fall was in 2006," Elliot Eisenberg, Bright MLS Economist Advisor, told UrbanTurf. "Since April or May, we have been transitioning away from that market. Is it slowing a bit? Yes. Does that mean we aren't in a strong market? No."
How quickly homes sold in September compared to the last couple years is a good indicator of where the market stands. In September 2019, homes were selling in just over two weeks on median. Last year, homes were moving off the market in just a week across the region. And last month? Homes were selling, on median, in ten days.
"The fair comparison for the current market is September 2019," Eisenberg said. "If you had told me a few years ago that homes were selling in ten days and that was a sign that the market had slowed down, I would've said you were crazy."
See other articles related to: dc area home prices, dc area housing market, dc area market trends, dc housing market
This article originally published at https://dc.urbanturf.com/articles/blog/did-the-dc-area-housing-market-cool-off-in-september-yes-and-no/18807.
Most Popular... This Week • Last 30 Days • Ever

The conversion of the West Heating Plant is moving along, and renderings are now offe... read »

The Knabe House is a 6,900+ square foot brownstone offering a rare blend of historic ... read »

As recent evidence has indicated, May ended up being a pretty busy month for the DC-a... read »

A deep dive on Dan's Cafe; Roadside sells City Ridge stake; and former Google CEO buy... read »

The publicly financed homes that cost $1.2 million each to build; DCPS plan to ban ce... read »
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
Unique Spaces
Awesome and unusual real estate from across the DC Metro