As many of you might already be aware, the housing market in the DC metro area
(similar to other major markets as well) has two peaks in the calendar year: The
Spring Market which typically now begins in February and runs through mid-June, and
the Fall Market which begins in mid/late August and runs through November,
sometimes past Thanksgiving. Seasonal trends have mostly held true again this year,
with two unique observations: Spring Market activity appeared to peak slightly earlier
in May, and activity stayed consistent month-over-month from June to July, when we
normally see a dip in overall volume and activity. Could just be statistical outliers or
seasonal anomalies, though we'll see if any new information reveals anything.
Now, we look ahead to Fall. While forecasting the market is always a tricky exercise,
here are some factors to keep an eye on as you consider your needs for the rest of
the year:
1. Inventory: We've now seen six straight months of increased inventory (even
though it might not feel that way for some of you). Stay tuned on whether the upward
trend continues into the Fall.
2. Election: Politics are still our hometown sport, and historical data shows that
activity tends to slow down a bit in the weeks leading up to the Election every four
years. We'll how this plays out in the markets during this cycle.
3. Interest Rates Drops: Rates have dropped lately after remaining steady and
stubborn for the first half of the year. TBD on whether that continues, though there
are signals. What that does for home prices, however, we'll find out.
4. Condo's: For those in the condo space - the # of condo listings around the area
have now reached pre-pandemic numbers. More opportunities abound if you're
looking to enter the market here.
DC Metro Area Monthly Market Update
A somewhat surprisingly active month for July, which is when activity typically takes a
seasonal dip in the DC area. Overall sales were up +10% YoY and we saw inventory
increase for a sixth straight month. The median sales price saw a YoY increase at
+5.9% though a slight drop from June (-2.3%).
For a full comprehensive report, click on the link below.
DC Metro Area August Full Report
Monthly Regional Market Data Reports
Comprehensive reports available available upon direct request or by signing up
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If you or someone you know has any real estate questions or would like to have a
private conversation about listing your home for sale or the buying process, reach
out directly anytime for assistance.
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