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In D.C., More Homes Are Selling and at Higher Prices

Inventory on the other hand is down by 13 percent when compared to last year

Last month, the number of homes sold in Washington, D.C. increased 12 percent year-over-year with the average days on the market at 26 days. According to Long & Foster Companies’ latest report on the District, inventory decreased by 13 percent year-over-year, while the sale price rose by 4 percent when compared to the previous year.

Neighborhoods like Anacostia and Spring Valley saw more activity this past month. In comparison to last year, these neighborhoods had 30 percent more homes sold. While more homes were sold in Anacostia, the inventory was 35 percent smaller. Brookland and Woodridge saw the sharpest decrease in active inventory, a 36 percent drop.

For Cleveland Park and Kalorama, the median sale prices for homes jumped 93 percent. The neighborhoods that had the fastest selling homes were Columbia Heights and Mt. Pleasant with listings selling an average of 14 days.

To compile the research, Long & Foster used data provided by Metropolitan Regional Information System, an online real estate information service for real estate professionals in the D.C. area.

For a closer look at Long & Foster’s data, check out the image below or go to Long & Foster’s website here.