Real Estate

DC Area Housing Market Continues Record-Breaking Streak

The median home price in the District reached $700,000 in June.

Photo by Jeff Manes/iStock.

The DC housing market is looking just like the weather forecast—hot. The median home price for the District reached a record breaking $700,000, according to Bright MLS, the local multiple-listing service, rising 12.9 percent since last June. The broader DC area is seeing a similar boom, with May’s $570,000 median home price breaking another record

The sheer number of closed sales in the DC area also reached a ten-year record, up 23 percent from the five-year June norm. Bouncing back from low pandemic numbers, the number of new listings for the first sixth months of 2021 went up 26 percent from 2020, and 9 percent from 2019. 

Local homes are sitting on the market for a median of only 7 days (a ten-year low), down from 9 last June. DC and Arlington County homes were on the market for a median of 8 days, while Montgomery County, Fairfax, and Falls Church homes were swooped up in a median of 6 days.

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Clara Grudberg joined Washingtonian in July 2021. Originally from New York City, she studies history and journalism at Georgetown University.