It is that time of year when the real estate activity is supposed to slow down and the numbers say that is exactly what is happening. Median price is down a bit and there was a smaller growth in sales (but things are still growing, so that's okay). The two biggest takeaways from this month's report are starting to feel like a broken record: low inventory is still a big factor and condos are the strongest part of the market. Specifically, condos had the highest year-over-year increases for sales, median price, and new contracts.
· Continued Tightening in DC Metro Inventory, Highest July Prices in Five Years [RBI]