The month of May provided the clearest indication yet that the area housing market is moving toward a much more balanced place. High prices and high interest rates dampened home sale numbers in the region, and perhaps gave sellers a bit of a reality check as far as the level of competition they should expect in the coming months.
Below, UrbanTurf plucked out some of the more telling statistics from the market last month.
- $1,316,000 -- The median price for a detached home in DC proper in May, down slightly from the record set in April.
- $620,000 -- The median home price in Montgomery County, up 13% compared to May 2021.
- 0.95 -- The months of supply of active listings in the DC region, the lowest on record for May.
- 146,000 -- The total number of home showings in the region last month, down 30% year-over-year.
- 6,807 -- The number of homes sold in the region, down 11% from May 2021.
- 6 -- The median number of days that homes spent on the market last month.
Photo courtesy of BTW Images.
This article originally published at https://dc.urbanturf.com/articles/blog/the-may-housing-market-in-the-dc-region-by-the-numbers/19783.
Most Popular... This Week • Last 30 Days • Ever
The Park View studio spreads out over just 265 square feet.... read »
When Johnsie Walsh rented a unit in her Stanton Park apartment building, she had no i... read »
The 30,000 square-foot home has been privately offered for sale since 2018.... read »
DC's Office of Planning recently looked at DC's migration patterns in 2022. Today, Ur... read »
The residential conversion at a former bowling alley in DC is moving forward, and new... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
Dupont Circle’s Swann House, a former 15-bedroom bed and breakfast, will be listed ... read »
The development will be located a few blocks south of the Takoma Metro station.... read »
There are two new proposals to redevelop the center at 14th and U Streets NW that are... read »
The M Street building was built in the early 1980s.... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... 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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro