The median price for District home sales reached a new June record of $620,000 last month, according to the Greater Capital Area Association of Realtors (GCAAR).
- The median home price in June was up 2.75% from the June 2018 median sales price of $603,000.
- This is up 57% percent from the June 2010 sales price of $385,000.
- The total number of June home sales, 857, was down relative to June 2018 – 890, representing a 3.7 percent decline.
- Finally, half the homes sold in June were on the market 16 days or less prior to contract, which is much less than the 26 days on market in June 2018.
The recent GCAAR release provided the following analysis, “Supply remains scarce relative to demand, continuing to drive a strong seller’s market.”
Kara and Wayne are ready to represent you!