The May housing market in the DC region was one of the wilder on record due to the roller coaster effect that COVID-19 is having on the market. The market is now characterized by record home prices, a dearth of homes for sale and buyer demand that is approaching pre-pandemic levels.
Below, UrbanTurf plucked out a few of the more telling statistics from May.
- $500,000 — The median home price in the DC region in May, the second highest level on record for the region.
- $660,000 — The median home price for DC in May, the highest on record for the city.
- 15 — The number of neighborhoods in DC where the median home price exceeded $1 million in May.
- 33% — The drop in new listings on the market in the DC region in May 2020 compared to May 2019.
- 1.37 — The months of supply of active listings in May, a 32 percent year-over-year drop.
- 33.7% — The rise in pending sales between April and May 2020. Pending sales fell 20% year-over-year, however.
- 9 — The median number of days that home spent on the market in the region in May.