The DC Metro marketplace maintained its momentum, as interest rates ended the month at 2.99% and unemployment (8.6% for June 2020) help below the national average. The area marked a new ten-year best for median sales price ($530.0K), easily surpassing the previous high set in April ($507.0K).
Sales volume and new pending home sales reached new highs. Homes stayed on the market for the second-fewest days in a decade. As well, sellers entered the marketplace as new listing activity climbed to a July best.
About the DC Metro Housing Market Update
The DC Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in ShowingTime's proprietary database. The DC Metro Area housing market includes Washington, D.C., Montgomery County, and Prince George's County in Maryland, and Alexandria City, Arlington City, Fairfax County, Fairfax City, and Falls Church City in Virginia. Data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.
The Bright MLS real estate service area spans 40,000 square miles throughout the Mid-Antarctic region, including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia. As a leading Multiple Listing Service (MLS), Bright serves approximately 95,000 real estate professionals who in turn serve over 20 million consumers. For more information, please visit www.brightmls.com
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