New month, same story.
The latest housing report out today for the DC area shows the continued trend of high home prices and scarce supply in the region.
“The DC Metro Area remains hot, recording its highest August median pricing in a decade at $465,000,” Chris Finnegan, Vice President at Bright MLS said. “Not surprisingly, Arlington and the Amazon Effect led the way with a median sales price of $635,000, an increase of 12.4 percent year-over-year.”
Below, UrbanTurf picked out a number of relevant numbers and statistics from the Bright MLS report.
- $465,000 — The median home price in the region in August, up $22,750 year-over-year and the highest August level in a decade.
- 98.6% — The average percent of original list price received at sale in the region, a ten-year high.
- 7,743 — The number of active listings on the market in the region, down 20 percent compared to last year.
- 52% – The drop in inventory in Arlington County since last August.
- 3.1% — The drop in closed sales in the region compared to last August.