June 2024 Monthly Housing Market Trends Report for Arlington, VA, Washington DC and Montgomery County. This is our monthly update and insights based on year over year numbers on these three markets. What do the numbers mean to you? How can they be translated to your current needs when buying or selling?
Sales lower but prices continue to rise in the Washington
D.C. area. In June, overall sales were down 12.2%
compared to a year ago. Through the first six months of
the year, total sales are 3.6% lower than in 2023.
Despite slower sales, home prices are still rising
throughout the region. The median sold price regionwide
was $640,000 in June, up 6.7% year-over-year. The fastest
price growth was in the region’s close-in markets,
including the city of Washington DC and Arlington County,
VA. Prices are still rising in the more distant suburbs but
at a slower pace.
Inventory has risen for five consecutive months in the
Washington DC metro area. At the end of June, there was
a total of 7,257 active listings across the region, up 21.9%
compared to a year ago. Regionwide, inventory is still less
than 60% of what it was in 2019 but in Washington D.C.
and Arlington County, supply is back to pre-pandemic
levels, primarily driven by more condos coming onto the
market
