The spring housing market in DC this year is characterized by scarcity, specifically the short supply of homes for sale.
To provide a sense of where the inventory shortage could be particularly acute, UrbanTurf did some digging to find the five neighborhoods in DC where the inventory of homes for sale hovered around a month or less in April.
The neighborhood with the lowest supply of homes for sale in April may also be the neighborhood that is least recognizable to readers. Colonial Village, which sits north of Rock Creek Park near the top of the DC diamond, had a 15-day supply of homes for sale on the market last month. What that means is that if no new listings hit the market, at current demand levels, the inventory of homes for sale would be zero in 15 days.
In AU Park and the U Street Corridor, the market shortage is almost as acute with a three-week supply of homes for sale. To put that in more tangible terms, there were just five homes for sale in AU Park last month. Rounding out the five neighborhoods are Spring Valley and Takoma, which each have a month’s supply of homes for sale.