Supply Side: The 5 Most Important Statistics From the DC-Area Housing Market in June

  • July 14th 2023

by UrbanTurf Staff

A home that sold in Bethesda in June.

While the supply of homes for sale was the main story in the June housing market in the DC area, there were other themes at play as well, albeit all tied to inventory. Home sales fell last month, but the year-to-year gap in sales activity is narrowing, and had there been more homes on the market, sales would've been more robust. The transactions that were happening were occurring quickly: homes on the market were going under contract in just a week.

Below we plucked out some of the more telling statistics from last month's market. 

  • $600,000 -- The median price for a home in the DC area in June, up slightly compared to June 2022.
  • 5,452 -- The number of new listings to come online in June, down 40% compared to last June. 
  • 5,419 -- The number of closed sales in June, a 18.5% drop. 
  • 1.35 -- The months of supply of homes on the market in June. 
  • 7 -- The median number of days that homes spent on the market in June in the region. 

Photo Courtesy of Will Hinostroza 

This article originally published at https://dc.urbanturf.com/articles/blog/supply_side_the_5_most_important_statistics_from_the_dc-area_housing_market/21252.

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