Despite the circumstances of this year, the D.C. Metro area real estate market has felt like it is our busiest in recent memory.
It seems that we are now in what we expected our spring market to be (delayed due to the virus shutdown), and July’s numbers prove this to be true.
Typically, July is slower than June, but this year, sales increased 17% month over month, 20% in D.C. alone. July area home sales were at a 10-year best for the month.
Median home prices in the area were up 13% compared to July 2019, and days on market (8) were at the lowest July level in 10 years, also the second shortest number of days on market overall in 10 years.