Record home prices were the main theme of the DC housing market in October, with both single-family homes and overall home prices setting price records. While homes sat on the market a bit longer as a result, the supply of homes for sale dropped compared to a year ago.
Below, UrbanTurf plucked out some of the more telling statistics from the October market.
- $705,000 -- The median home price for DC in October, the highest on record for the city.
- $1.695 million -- The average price for a detached, single-family home in October, up 19% compared to last year.
- 9,055 -- The number of homes that sold in DC so far this year, up 15% compared to last year.
- 18 -- The number of neighborhoods in DC where the median home price exceeded $1 million in October.
- 2.32 -- The months of supply of active listings in October, a 10% year-over-year drop.
- 12 -- The median number of days that homes spent on the market in the region in October.
Photo courtesy of Chris Ellenbogen of HomeVisit.
This article originally published at http://dc.urbanturf.com/articles/blog/up-up-and-away-the-october-housing-market-by-the-numbers/18955
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