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DMV House Prices 7% Higher Compared To Last Year, Twice As High As National Average

Earlier in the week MRIS released a report about our median home price topping $400K for the first time in four years, and now Redfin is back to tell us some more specifics. Yesterday they released their June Home Price Tracker report that looks at nineteen US cities. Ours had the third-highest increase compared to June of last year with a 7.3% rise in median price. Also, 30.7% of listings on the market during the first 3.5 weeks in June sold within 2 weeks. It's a jungle out there!

For the agents out there, Redfin also has something called the The Real-Time Demand Pulse that measures interest from buyers. For June they found an uptick in both people making offers and requesting to tour houses on the market. They passed along a handy graph of how many tours and contracts their DC team has managed so far this year. Click through for charty goodness.

· Redfin Real-Time Home Price Tracker: June Prices Increased 3.0%, But Sales Slowing [Redfin]
· The Real-Time Demand Pulse: August Sales Improve Only Moderately Over Prior Year [Redfin]
· Summer's Hot And So Is DC Real Estate: Prices At 4 Year High [CDC]