Percent changes calculated using year-over-year comparisons. New Listings were down 26.4 percent for single family homes and 19.2 percent for townhouse-condo properties. Under Contracts decreased 3.7 percent for single family homes and 0.6 percent for townhouse-condo properties.
The Median Sales Price was down 0.9 percent to $625,000 for single family homes but increased 4.1 percent to $427,000 for townhouse-condo properties. Days on Market increased 66.7 percent for single family homes and 92.9 percent for townhouse-condo properties.
Despite a drop in existing-home sales, home prices have remained near record highs, with a national median sales price of $410,200 as of last measure, 0.9% below the all-time high of $413,800 recorded in June 2022, according to NAR. With only 3.1 months’ supply heading into Ju’, the lack of inventory has boosted competition among buyers and put upward pressure on sales prices, especially in more affordable markets, where competition for homes remains particularly strong.
Source: https://www.dmarealtors.com/
