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The Crazy DC Housing Market in May, By the Numbers

by UrbanTurf Staff

The supply of homes for sale in the DC area.

The May housing market in the DC region was one of the wilder on record due to the roller coaster effect that COVID-19 is having on the market. The market is now characterized by record home prices, a dearth of homes for sale and buyer demand that is approaching pre-pandemic levels. 

Below, UrbanTurf plucked out a few of the more telling statistics from May. 

  • $500,000 -- The median home price in the DC region in May, the second highest level on record for the region. 
  • $660,000 -- The median home price for DC in May, the highest on record for the city. 
  • 15 -- The number of neighborhoods in DC where the median home price exceeded $1 million in May. 
  • 33% -- The drop in new listings on the market in the DC region in May 2020 compared to May 2019. 
  • 1.37 -- The months of supply of active listings in May, a 32 percent year-over-year drop.
  • 33.7% -- The rise in pending sales between April and May 2020. Pending sales fell 20% year-over-year, however. 
  • 9 -- The median number of days that home spent on the market in the region in May.

Thumbnail image is a home that sold on Capitol Hill in May.

See other articles related to: dc housing market, dc home prices, dc area housing market

This article originally published at http://dc.urbanturf.com/articles/blog/the-crazy-dc-housing-market-in-may-by-the-numbers/16955

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