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The Two Charts That Explain the Climate in the DC Housing Market
The DC housing market has been characterized by two trends for the past couple years: chronically low inventory and high demand.
There were indications that the inventory trend, at least in the region, may have started to turn in March, but two charts for the first quarter of the year show that in DC proper, things remain the same.
Inventory of homes for sale in DC.
The inventory of homes for sale in DC remains quite low. In March, inventory stood at 1.8 months, despite increasing from last year. Inventory was even lower in January and February, dropping to 1.5 months of supply in December. The standard benchmark for a balanced housing market is six months of inventory. DC has been below the two-month level for six months.
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Ratio of contracts to active listings.
The reason for the lack of inventory is illustrated in the second chart above. The ratio of contracts to listings on the market in DC has been above 1.0 for the last two months. This means that active listings are receiving at least one contract, and in many cases more. Just last week, a reader wrote in letting us know that he won a bidding war for his new Columbia Heights home — his offer was one of 16.
This article originally published at https://dc.urbanturf.com/articles/blog/the_two_charts_that_explain_the_dc_housing_market/11113
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DC Real Estate Guides
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Northern Virginia
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Ballston
Looking to Give People A Reason to Stay Past 6pm
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Clarendon
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Columbia Pike
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Crystal City
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Lyon Village
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Rosslyn
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Shirlington
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Del Ray
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Eisenhower Avenue
The Vibrancy Might Take a Few Years
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Huntington
The Quiet Neighborhood By the Beltway
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Old Town
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Parkfairfax
132 Commerical-Free Acres
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Downtown Falls Church
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Tysons Corner
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Maryland
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Annapolis
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Bethesda
Bedroom Community Gets Buzzing Cache
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Cabin John
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Chevy Chase
Affluence, Green Lawns and Pricey Homes
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Downtown Silver Spring
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Potomac
A Suburb on Steroids
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Rockville Town Square
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Takoma Park
More Than a Little Bit Quirky
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Wheaton
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Capitol Heights
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Hyattsville
Glass Half Full or Half Empty?
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Mount Rainier
Artists, Affordable Homes and A Silo Full of Corn
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National Harbor
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Riverdale Park
A Town Looking For Its Identity
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Northwest DC
30+ neighborhood profiles for the city's biggest quadrant
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16th Street Heights
DC's Sleeper Neighborhood
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Bloomingdale
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AU Park
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Brightwood
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Burleith
DC’s 535 House Neighborhood
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Cathedral Heights
Do You Know Where That Is?
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Chevy Chase DC
Not to Be Confused With the Other Chevy Chase
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Cleveland Park
Coming Back After A Rough Year
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Columbia Heights
DC’s Most Diverse Neighborhood, But For How Long?
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Crestwood
An Island of Serenity East of the Park
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Dupont Circle
The Best of DC (For a Price)
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Foggy Bottom & West End
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Forest Hills
Ambassadors and Adventurous Architecture
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Foxhall Village
350 Homes Just West of Georgetown
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Friendship Heights
A Shopping Mecca With a Few Places to Live
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Georgetown
History, Hoyas and H&M
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Glover Park
One of DC’s Preppier and More Family-Friendly Neighborhoods
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Kalorama
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LeDroit Park
A Quiet Enclave in the Middle of the City
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Logan Circle
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Mount Pleasant
Sought-After Homes Surround Main Street in Transition
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Mount Vernon Triangle
From Seedy to Sought-After
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Palisades
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Park View
It’s Not Petworth
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Penn Quarter/Chinatown
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Petworth
Getting a Vibrancy of Its Own
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Shaw
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Shepherd Park
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Spring Valley
A Suburb With a DC Zip Code
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Takoma
Not To Be Confused With Takoma Park
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Tenleytown
Not Quite Like Its Neighbors
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U Street Corridor
The Difference a Decade Makes
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Woodley Park
Deceptively Residential
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Adams Morgan
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Southwest DC
The little quadrant that could
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Southwest Waterfront
A Neighborhood Where A Change Is Gonna Come
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Northeast DC
Profiles of 10 neighborhoods in NE
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Brookland
New Development Could Shake Up Pastoral Peace
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Deanwood
A Little Bit of Country Just Inside the District’s Borders
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Eckington
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Fort Totten
Five Years Could Make a Big Difference
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H Street
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Langdon
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Michigan Park
A Newsletter-On-Your-Doorstep Community
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NoMa
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Rosedale
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Trinidad
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Woodridge
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Southeast DC
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Capitol Riverfront
Still Growing
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Hill East
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Congress Heights
Gradually Rising
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Hillcrest
Notable for Its Neighborliness
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Historic Anacostia
Future Promise Breeds Cautious Optimism
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Eastern Market
A More European Way of Living
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Off the Beaten Turf
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Unique Spaces
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