“The July real estate market in the DC area was red-hot, making up for lost time from this spring’s slowdown,” said Chris Finnegan, chief marketing & communications officer at Bright MLS in a recent press release summarizing new real estate market numbers from the month of July.
According to the new data released by Bright MLS, the DC metro area marked a 10-year best for median sales prices ($530.0K) in July, surpassing the previous high set in April (%507.0K).
Other highlights from the report include DC townhomes scoring a monthly median sales price above $800.0K for the first time on record, and Arlington hit a new overall decade high, with townhomes coming in at a 10-year record sales price of $927.5K, a 15.9% increase.
Homes sales in the region also climbed to a July 10-year best, marking the first time on record July closings improved over June.
“The seasonal peaks we usually see with the spring market are happening now,” Finnegan said in the press release. “The market saw a new 10-year high for the median sales price, and homes came off the market in a July record eight days.”
Homes’ total number of days on the market averaged out at eight days, falling to their lowest July level in a decade, and the second shortest number of days overall in 10 years. And, new pending sales of condos/co-ops set an overall 10-year high, with new pending sales of attached homes reaching their highest level since April 2016 and the fifth highest in the past decade.
For more information, or to see the data, visit brightmlshomes.com. Data provided by MarketStats by ShowingTime based on listing activity from Bright MLS.
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