Signs of recovery began to surface last month as the region narrowed the year over year losses experienced in the past two months due to the COVID-19 pandemic.  The number of closes sales in the city hit 781, and now only trails 2019 by 8.9%.  The number of new listings continues to rise.

The Numbers Month to Month and Year to Year

July 2020 DC Real Estate Report ChartThe median sales price for Washington, DC Homes for Sale hit $620,000 last month, which was the same as June 2019. The median sales price was $660,000 in May.The number of Washington, DC Homes that sold was 781 in June 2020 vs. 857 that sold in June 2019. This represented an expected 8.9% decrease. By comparison, 566 homes sold in May of 2020.

All of these changes affect your home value. If you want to know the new value of your home, click here!

A few highlights of the current Washington, DC Homes for Sale are shown below and represent a nice cross-section of properties available, under contract and that have sold.

This Month’s Most Expensive

The most expensive of all Washington, DC Homes for sale last month was an unique Georgetown mansion. The home featured a detached gym and a heated lap pool. The final sales price was a cool $17 million.

This Month’s Least Expensive

The least expensive of all Washington, DC homes for sale was a gorgeous city chic condo in the Fairfax Village neighborhood.  The remodeled unit sold for an affordable $125,000.

What These Numbers Mean to You

The District of Columbia has now entered Phase 2 of reopening. Traditional Open Houses are not yet permitted, but showings with one person at a time have continued and showings are getting back to levels seen in previous years.  The record-setting median sales price this month along with the low inventory of homes for sale continues to put home sellers in the driver’s seat.

About Love Living DC

Love Living DC is Washington’s #1 real estate team for dependable neighborhood expertise. If you have any questions about buying, selling, or investing in DC real estate, feel free to reach out to me anytime. I’d be happy to help.