What's Hot: Douglas Development Files PUD For Large Warehouse At New City Site Along New York Avenue
A More Balanced Place: The May Housing Market in the DC Region, By the Numbers
✉️ Want to forward this article? Click here.
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.
story continues below
loading...story continues above
story continues below
loading...story continues above
- $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.
See other articles related to: dc area housing market, dc housing market, dc housing market trends
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
When you buy a home in the District, you will have to pay property taxes along with y... read »
The largest condominium building in downtown DC in recent memory is currently under c... read »
The plan to convert a Dupont Circle office building into a residential development ap... read »
The Rivière includes just 20 homes located on the eastern banks of the Anacostia Riv... read »
Why Tyra Banks is serving ice cream in DC; a bike shop/record store opens in Adams Mo... 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