DC Metro Area Real Estate Market Sees Home Sales Decline

The DC Metro Area market slowed this week but was still better than normal as sales dropped 15.8% to 7,339 homes sold over the last 30 days. Fairfax County made up the largest percentage, with 1,470 sales on its own. Potential buyers should note that prices are coming down in the DC Metro Area, and for this period the median sales price slid from $402,000 to $399,900. In spite of the decrease in sales, a low three months of inventory signals that the DC Metro Area is a seller's market.

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Demographic facts for the DC Metro Area:

  • The rating for this area for population growth is 53. (Scale: 1 = Worst, 100 = Best)
  • This area has a property tax of $11.04/$1,000.
  • Here are some of the distributions of commute times for the area: <15 min (15.9%), 15-29 min (29.8%), 30-44 min (25.5%), 45-59 min (13.4%), >60 min (15.5%).

Data reported through 8/4/2017

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