For Washington, D.C., home prices and sales are up, while the number of homes on the market is down, according to Redfin's latest report. Comparing April 2016 to April 2015, the number of new-for-sale listings decreased 2.4 percent, a first in almost a year. Redfin further reported that the overall inventory decreased roughly 1 percent.
Prices rose 4.2 percent year-over-year with the "typical home" asking $520,000 and selling in 15 days. Meanwhile, the number of sales this past April increased 3.9 percent.
For a closer look at how each neighborhood is performing, be sure to check out Redfin's report here.
• Washington, D.C., Housing Market Hits Frenzied Pace with Typical Home Selling in About Two Weeks [Redfin]