Washington, D.C. Home Prices Down in October

"In October, home prices fell slightly from the month before, with a median listing price of $584,975. The number of listings on the market grew 1.7% from last month, which is a smaller increase than normal for this time of the year in Washington, D.C., and homes are also selling at the same pace as the same time last year."

"Typically, home price per square foot in Washington, D.C. tend to rise in October. And the most recent data shows that the price per square foot increased by 1.1% compared with the month before. So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in the Capital City are outpacing the national market."

"In October, there were 3,035 homes for sale in Washington, D.C., which was 1.7% more than the month before and 13.2% more than the same time last year. Meanwhile, active inventory across the nation remained practically unchanged from last month to 1,100,001. Homes in Washington, D.C. take an average of 47 days to sell, according to October figures. This is five days less than the previous month and the same as the same month last year."

In October, the median listing price in Washington, D.C. was $584,975, representing a slight decrease from the previous month. The number of active listings rose 1.7% month-over-month and 13.2% year-over-year, a smaller-than-normal seasonal increase. Price per square foot in Washington, D.C. increased 1.1% from the prior month, while the national price per square foot decreased 0.8%. There were 3,035 homes for sale in the city and 1,100,001 active listings nationwide. Homes in Washington, D.C. sold in an average of 47 days, five days faster than the previous month and faster than the national average of 63 days.

Read at SFGATE