The fall real estate market in the DMV is a mixed bag of both positive and negative news. Home sales and prices are down a bit, but inventory and showings are up.
According to Redfin, in September 2024, Washington, D.C. home prices were down 2.4% compared to last year, selling for a median price of $610,000. On average, homes in D.C. sell after 55 days on the market compared to 54 days last year. There were 414 homes sold in September this year, down from 478 last year.
“Inventory has really shot up in the in the last couple of months. Across the whole D.C. Metro market, inventory is up about 19%. There are more choices for buyers right now, and it’s helping to stabilize the market a bit,” saidAvi Adler, realtor 2023 GCAAR president.
Click here to read the rest of this article written by Melanie Hastings over at WJLA Channel 7
