Real Estate

The DC-Area Housing Market Is Rebounding From Covid

New data shows that both buyers and sellers are getting back to normal.

Photo from Wikimedia Commons.

The Washington real estate market is returning to normal, as the DC area gradually reopens.

Data from June indicates buyers are feeling much more confident than earlier in the pandemic. Compared to June 2019, 6,046 listings went under contract last month— a 4.7 percent increase year-over-year. In fact, more homes went under contract this June than during any other June in at least the past decade.

Though the supply of houses for sale remains extremely low, sellers are also starting to come off the sidelines. More than 6,500 new listings hit the market in June—nearly 1,000 more than hit the market in May. While the June figure still represents a 4.6 percent decrease compared to June 2019, it’s a much more promising stat than in May, when the number of new listings represented a 33.2 percent year-over-year decline.

Given the constrained inventory, homes continue to sell quickly and at high prices. June’s median sale price was $505,000, up 3.1 percent since last year, and listings spent a median of just nine days on the market.

Take a look at the full report of June housing data below. The information was provided by MarketStats by ShowingTime based on activity from Bright MLS, the listing service that all local agents use.

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Senior Editor

Marisa M. Kashino joined Washingtonian in 2009 as a staff writer, and became a senior editor in 2014. She was previously a reporter for Legal Times and the National Law Journal. She has recently written about the decades-old slaying of a young mother in rural Virginia, and the brazen con of a local real-estate scion. Kashino lives in Northeast DC with her husband, two dogs, and two cats.