HOMESbyRP of eXp Realty / Richard Pearrell

Washington, DC

Condos/Townhomes

https://HOMESbyRP.com GRI, Associate Broker DC, MD, VA & REALTOR® in FL at eXp Realty, LLC / (301) 991-7061 /



Washington, DC

Sun Jul 14 2024
This week the median list price for Washington, DC is $475,000 with the market action index hovering around 32. This is about the same as last month's market action index of 32. Inventory has increased to 1,427. Click here to stay informed with the Washington market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Washington, DC

Sun Jul 14 2024
This week the median list price for Washington, DC is $475,000 with the market action index hovering around 32. This is about the same as last month's market action index of 32. Inventory has increased to 1,427. Click here to stay informed with the Washington market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Washington market.
Median List Price $475,000
Median Price of New Listings $474,900
Per Square Foot $545
Average Days on Market 54
Median Days on Market 56
Price Decreased 38%
Price Increased 1%
Relisted 11%
Inventory 1,427
Median Rent
Market Action 32
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$972,450 1,600 0 - 4,500 sqft 2 2.5 20 32 34 49
$575,000 1,040 0 - 4,500 sqft 2 2 30 37 32 56
$399,900 750 0 - 4,500 sqft 2 1 60 41 45 56
$255,000 605 0 - 4,500 sqft 1 1 65 31 31 63