Home | Newsletter | Advertise
loading...

The Property Type That Is Scarce in the DC Area Housing Market

  • March 11th 2024

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

6926 Pineway Rd.jpg
A detached home in University Park that sold earlier this year.

In February, something happened in the DC area housing market that homebuyers have been waiting for: more homes hit the market. 

The number of new listings to come online in the region increased for the first time in 11 months, according to the latest report from Bright MLS released today. The number of condos and co-ops for sale rose notably, while there was a slight increase in the number of townhomes for sale. But there was one property segment that didn't following suit. 

"In February, the number of active listings across the Washington, D.C. metro area was up 5.5% compared to a year ago," the February report on the DC area market stated. "More inventory is a welcome sign for spring homebuyers, but those who are looking for a single-family home will still see shrinking options with single-family inventory down 2.5%."

Like housing inventory across the area, the supply of detached homes for sale has been dropping for years now. In January 2020, there were approximately 4,500 single-family homes on the market; last month, that number had dropped to around 2,100. During that same period, the median price for a detached home rose from $520,000 to $741,000. 

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

This article originally published at https://dc.urbanturf.com/articles/blog/the_property_type_that_is_scarce_in_the_dc_area_housing_market/22056.

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