Home | Newsletter | Advertise
loading...

The 5 Most Important Stats From the July Housing Market

  • August 17th 2023

by UrbanTurf Staff

2020 12th St NW #706.jpg
A U Street condo on the market in July.

While the supply of homes for sale and the number of new listings coming online were the main factors affecting the DC-area housing market last month, other metrics help paint a picture of what is happening around the region. For example, the number of homes that went under contract (down just 10% compared to last summer) and the time that homes are spending on the market show that buyers are still competing heavily for available homes. That competition is also being seen in price gains: the median home price in the region saw its largest jump in more than a year. 

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

  • $590,000 -- The median price for a home in the DC area in July, a 5% increase compared to July 2022. 
  • 4,881 -- The number of new listings to come online in July, down 34% compared to last July. 
  • 4,630 -- The number of pending sales in July, a 10% drop compared to last summer. 
  • 1.33 -- The months of supply of homes on the market. 
  • 7 -- The median number of days that homes spent on the market in July in the region. 

See other articles related to: dc housing market, dc housing market trends

This article originally published at https://dc.urbanturf.com/articles/blog/the_5_most_important_stats_from_the_july_housing_market/21363.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse