September data is in, so let’s look back at the third quarter real estate market in several DC neighborhoods.
The fall DC market started well with the highest September sales activity since 2006. Median sales prices are up and inventory is increasing (while inventory growth is slowing).
Probably the most important thing to note is that DC housing inventory has risen above two-months worth of supply for the first time in a year (in the month of September). It is also encouraging to note that the supply of homes for sale has risen every month this year. Even with these increases, we are still in a seller’s market in DC.
However, we are beginning to see signs that the market is shifting. This is something I am watching. If you are thinking about selling your home, it may make more sense to list now rather than wait for the spring market. To discuss this in greater detail, contact me.
Here is the information on a sampling of DC neighborhoods. If you are interested that stats on a specific neighborhood in DC, contact me.
Here is the neighbourhood breakdown.
(Source: RealEstate Business Intelligence. Data: MRIS.)