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Housing Market Update: The Washington D.C. Metro Area

September 2020 Housing Market Update: The Washington D.C. Metro markets remained strong, with single-digit days on market and record-setting median sales price increases in both areas.

The following analysis of the Washington, D.C. Metro Metro Area housing markets has been prepared  is based on September 2020 Bright MLS housing data.

DC Metro Area – Overview

DC Metro Home Sales and Median Prices September 2020

  • The metro area median sales price ($512.0K) hit a September high, up by a record $81.0K (+18.8%) from last year.
    • In Fairfax County, the median price of a single-family home ($770.0K) shot up +$95.0K (14.1%) from last year.
    • Montgomery County single-family homes hit a ten-year high ($666.0K). Potomac detached homes closed for $1.1M (+21.6%).
  • The metro region marked a ten-year high for condo/co-op sales (1,575, up 43.7%).
  • Homes continued to sell at a record-setting pace, remaining at an all-time low seven days for a second month.
    • The number of sold listings coming off the market in ten days or less (3,285) more than doubled from last year (+105.3%). Montgomery County saw a 153.8% increase.