"The median list price hit $550,000 in April - down a steep 10.6% from a year ago, compared to just a 1.4% dip nationally."
"Active listings fell 3.6% year-over-year to 2,733 in April, even as national inventory grew 4.6%. New listings dropped 8.2% to 1,146."
"The typical home spent 43 days on the market in April, up 16.2% from 37 days a year ago. Nationally, days on market rose just 3% to 52 days."
"Only 16% of DC listings carried a reduction, down 2.3 percentage points year-over-year - suggesting sellers priced more realistically upfront."
In April, the DC housing market experienced a notable shift with a median list price decrease of over 10% compared to the previous year. Homes took longer to sell, averaging 43 days on the market, while active listings fell by 3.6%. New listings also dropped significantly, leading to fewer options for buyers and less competition for sellers. Despite the drop in prices, fewer listings required price cuts, indicating more realistic pricing strategies from sellers.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]