Home | Newsletter | Advertise
loading...

Sales Rebound, Inventory Plummets: The DC Area Housing Market in July

  • August 13th 2019

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

A DC home that sold in July. 

In June, DC home prices hit a record high and home sales faltered as a result. In July, it was a different story. 

The July housing report from Bright MLS reveals that home sales were up in the region last month even as prices hit a decade-high for July. Sales volume in the DC area rose 4.4 percent year-over-year to just over $3 billion and closed sales came in at 5,282, the highest level for the month in ten years. 

As sales rose, inventory plummeted. The supply of homes for sale in the region dropped 18 percent in July with new listings falling by 5.2 percent. The inventory of homes for sale fell in every jurisdiction in the DC region. 

With a scant supply of homes for sale, but interest rates dropping to three-year lows, it will be interesting to see what happens with home sales in the coming months. 

This article originally published at https://dc.urbanturf.com/articles/blog/sales-rebound-as-inventory-plummets-the-dc-area-housing-market-in-july/15750.

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