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D.C.’s inventory is lowest since 2009

Meanwhile, sales have decreased and prices are up

While buyer demand is strong in Washington, D.C., the number of homes on the market can’t seem to keep up. Redfin reported that the number of properties for sale in July declined 9.6 percent year-over-year. With only 1.4 months of supply on the market, that resulted in the District having the lowest level of supply since 2009.

Last month, the median sale price for a home in the District increased 3.2 percent year-over-year to $558,000. The number of sales decreased 3.5 percent year-over-year, but according to Redfin nearly 1,000 homes sold last month, which is still relatively strong for the area. The typical home sold in 15 days.

For more details on the D.C. Metro area, check out Redfin’s report here.