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Summer's Hot And So Is DC Real Estate: Prices At 4 Year High

Temperatures the last week and a half have been up, up, and up. And in June, according to the monthly report by RBI, so were the area's real estate prices. But if you've been in the market, whether buying or selling, this is not new news to you. And why's that? Well, the game remains the same: low, low inventory. The number of houses, condos, and co-ops is at a 16-month low. But the biggest news from this deluge of data is median sale prices in the region have topped $400,000 for the first time since June 2008. (Remember that whole near collapse of the global economy and housing prices thing that happened around that same time?) So basically, we've more hard numbers reiterating what many of us anecdotally know: It's hot out there. And as per usual, we'll be back later today with our monthly heat map of sales prices by zip code for last month. Stay tuned.

· Area Sale Price Hits $400K, First Time Since 2008 [RBI]