The Crazy DC Housing Market in May, By the Numbers
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.
story continues below
loading...story continues above
- $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 area housing market, dc home prices, dc housing market
This article originally published at https://dc.urbanturf.com/articles/blog/the-crazy-dc-housing-market-in-may-by-the-numbers/16955.
Most Popular... This Week • Last 30 Days • Ever
When Dan and Tanya Snyder couldn't sell their 30,000 square foot home , the former ow... read »
Plans for another residential project in downtown Bethesda are moving forward.... read »
Cash-out refinancing is a popular financial strategy that allows homeowners to conver... read »
This weekend, the Gallery-Place Chinatown Task Force pitched its ideas to Mayor Murie... read »
Nearly one million square foot development planned in Wheaton; the renovation regrets... 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