"Active listings fell 2.5% year-over-year to 2,123 homes in February, while nationally, inventory grew nearly 8%. Buyers were still competing for a limited pool of homes, even as prices softened."
"The median list price in DC fell to $549,450 in February, down 6.9% from a year ago. Only 11% of listings carried a price reduction, well below the national rate of 15.5%."
"Sellers should know the pace has cooled - but DC still outran most of the country. The median home sat on the market for 59 days in February, up from 57 days a year ago."
In February, Washington, DC experienced a 6.9% drop in median list prices, reaching $549,450. Active listings decreased by 2.5%, indicating limited options for buyers. Despite the price decline, only 11% of listings had price reductions, suggesting sellers were pricing strategically. Homes took an average of 59 days to sell, slightly longer than the previous year, but still faster than the national average of 70 days. The market reflects a disciplined approach from sellers and ongoing competition among buyers.
Read at SFGATE
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