Hey, Uptown! Here’s your August Real Estate update.
Real Estate activity in the District of Columbia took a slight breather last month. The median sales price retreated 4.4%, down to $592,500. However, that was up a solid 4% from July of 2018.
Similarly, the number of closed sales slid 7.6% to 792 homes. This represented a drop of 6.8% from the same month last year. The number of pending sales also dropped to 877, which is down 7.1% from June, so we should expect to see the market cooling a bit next month as well.
Despite these stats, we’re still in strong seller’s market territory, with only a two-month supply of homes available on the market. I am still encouraging my clients who are considering putting their home on the market to do so sooner rather than later. As we’ve seen with the shaky stock market over the past few days, the winds of recession are blowing a bit stronger lately.
All of these changes affect your home value. If you want to know the new value of your home, click here!
Washington DC Market Stats
Uptown Home Sale Results
Here are the local home sale results for last month, listed by neighborhood: