STATPAK JUNE 2020 WASHINGTON, DC… · The Washington, DC real estate market is showing some encouraging signs of recovering from the significant contraction brought on by the COVID-19

Copyright © 2020 – McEnearney Associates Washington, DC StatPak - Page 1

MARKET IN A MINUTE A SUMMARY OF MARKET CONDITIONS FOR MAY 2020

Unless otherwise noted, data derived from Metropolitan Regional Information Systems, Inc. (MRIS®). “Northern Virginia” is defined as Arlington and Fairfax counties and the cities of Alexandria, Falls Church & Fairfax.

CONTRACTS Contract activity in May 2020 was down 13.9% from May 2019 and was down in five price categories. Through the first five months of the year contract activity is down 12.8%. The average number of days on the market for homes receiving contracts was 36 days in May 2020, up from 27 days in May of last year. URGENCY INDEX The Urgency Index, simply the percentage of homes going under contract that were on the market 30 days or less, was down in May compared to the year prior. During the past 15 years, the Index has been as high as 83% (May 2005) and as low as 30% (December 2008). In May 2020, the Urgency Index was 65.2%, down significantly from 76.7% in May 2019. INVENTORY The number of homes on the market at the end of May was down 9.5% compared to the end of May 2019. The number of new listings coming on the market decreased 24.3% compared to May 2019. The decrease in contract activity combined with the decrease in listings raising overall supply slightly to 1.7 months from 1.6 months at the end of May 2019. INTEREST RATES 30-year fixed mortgage interest rates at the end of May stood at 3.15%, almost seven-eighths of a point lower than this time last year, slightly lower than the end of last month. These are historic lows for mortgage interest rates and contribute to this being an exceptionally attractive time to purchase a home. AFFORDABILITY The payment on a no-money-down, 30-year fixed mortgage for a median-priced home is 40% higher than a decade ago in May 2010 – but the median price is 71% higher. Despite rising home prices, lower interest rates have dropped the payment 1.6% compared to this time last year. The mortgage payment for a median priced home ($2,819) was higher in May than the median rented price ($2,600). DIRECTION OF THE MARKET The Washington, DC real estate market is showing some encouraging signs of recovering from the significant contraction brought on by the COVID-19 pandemic. In April, contract activity fell by 50%, and in May the drop was only 14%. Early June numbers are even more encouraging. Yet the hit to the market is undeniable – since mid-March, there have been 30% fewer homes going under contract than the same time last year. However, it is also undeniable that the fundamentals remain strong. Overall supply relative to demand is comparable to last May, as are absorption rates. We know a full recovery is still well down the road, but we believe that as more businesses open and more furloughed employees return to work, we’ll see more people taking advantage of historically low interest rates.

WASHINGTON, DC JUNE 2020 STATPAK

McEnearney.com


MONTHLY SUMMARY MAY 2019 vs. MAY 2020

May May %WASHINGTON, DC 2019 2020 Change

Number of Closed Sales 929 568 -38.9%Fully Available Inventory on 5/31 1,552 1,404 -9.5%Number of New Listings 1,436 1,087 -24.3%Number of New Contracts 987 850 -13.9%Days on Market - New Contracts 27 36 33.3%Average Sales Price $733,274 $747,103 1.9%Average Seller Subsidy $1,884 $3,058 62.3%Urgency Index 76.7% 65.2% -15.0%Months' Supply 1.6 1.7 5.0%

MONTGOMERY COUNTYNumber of Closed Sales 1,336 881 -34.1%Fully Available Inventory on 5/31 2,425 1,503 -38.0%Number of New Listings 2,049 1,233 -39.8%Number of New Contracts 1,545 1,171 -24.2%Days on Market - New Contracts 34 34 0.0%Average Sales Price $574,310 $571,854 -0.4%Average Seller Subsidy $3,137 $4,058 29.4%Urgency Index 70.5% 68.7% -2.6%Months' Supply 1.6 1.3 -18.2%

PRINCE GEORGE'S COUNTYNumber of Closed Sales 1,066 713 -33.1%Fully Available Inventory on 5/31 1,644 1,057 -35.7%Number of New Listings 1,454 1,039 -28.5%Number of New Contracts 1,234 1,102 -10.7%Days on Market - New Contracts 41 35 -14.6%Average Sales Price $326,201 $343,639 5.3%Average Seller Subsidy $5,431 $6,025 10.9%Urgency Index 66.5% 67.4% 1.4%Months' Supply 1.3 1.0 -28.0%

LOUDOUN COUNTYNumber of Closed Sales 743 543 -26.9%Fully Available Inventory on 5/31 1,079 725 -32.8%Number of New Listings 1,113 768 -31.0%Number of New Contracts 787 708 -10.0%Days on Market - New Contracts 24 26 8.3%Average Sales Price $529,167 $569,813 7.7%Average Seller Subsidy $2,276 $3,074 35.1%Urgency Index 78.7% 75.4% -4.2%Months' Supply 1.4 1.0 -25.3%

NORTHERN VIRGINIANumber of Closed Sales 2,389 1,624 -32.0%Fully Available Inventory on 5/31 2,900 1,991 -31.3%Number of New Listings 3,311 2,141 -35.3%Number of New Contracts 2,515 1,976 -21.4%Days on Market - New Contracts 22 23 4.5%Average Sales Price $626,745 $642,770 2.6%Average Seller Subsidy $1,942 $2,528 30.2%Urgency Index 80.6% 77.7% -3.6%Months' Supply 1.2 1.0 -12.6%

* Note: Percentages depicted in red indicate a negative market trend; black indicates a positive market trend


YEAR-TO-DATE SUMMARY 2019 vs. 2020

Jan-May Jan-May %WASHINGTON, DC 2019 2020 Change

Number of Closed Sales 3,496 3,177 -9.1%Average Month-End Available Inventory 1,320 1,275 -3.4%Number of New Listings 5,797 5,117 -11.7%Number of New Contracts 4,371 3,810 -12.8%Days on Market - New Contracts 38 40 5.7%Average Sales Price $711,067 $728,148 2.4%Average Seller Subsidy $2,321 $2,830 21.9%Average Urgency Index 69.7% 66.8% -4.2%Average Months' Supply 1.5 1.7 10.8%

MONTGOMERY COUNTYNumber of Closed Sales 4,375 4,262 -2.6%Average Month-End Available Inventory 1,895 1,371 -27.6%Number of New Listings 7,774 6,256 -19.5%Number of New Contracts 5,962 5,133 -13.9%Days on Market - New Contracts 43 37 -12.4%Average Sales Price $545,059 $562,754 3.2%Average Seller Subsidy $3,460 $3,689 6.6%Average Urgency Index 67.6% 69.9% 3.4%Average Months' Supply 1.6 1.3 -16.0%

PRINCE GEORGE'S COUNTYNumber of Closed Sales 3,913 3,589 -8.3%Average Month-End Available Inventory 1,614 1,144 -29.1%Number of New Listings 6,199 5,355 -13.6%Number of New Contracts 5,811 4,924 -15.3%Days on Market - New Contracts 51 41 -19.4%Average Sales Price $307,611 $335,077 8.9%Average Seller Subsidy $5,608 $6,164 9.9%Average Urgency Index 56.8% 65.0% 14.4%Average Months' Supply 1.4 1.2 -16.3%

NORTHERN VIRGINIANumber of Closed Sales 8,415 7,431 -11.7%Average Month-End Available Inventory 2,254 1,784 -20.9%Number of New Listings 13,022 10,797 -17.1%Number of New Contracts 10,374 8,906 -14.2%Days on Market - New Contracts 25 24 -1.5%Average Sales Price $604,247 $645,411 6.8%Average Seller Subsidy $2,147 $2,104 -2.0%Average Urgency Index 80.1% 82.0% 2.4%Average Months' Supply 1.1 1.0 -7.8%

LOUDOUN COUNTYNumber of Closed Sales 2,399 2,302 -4.0%Average Month-End Available Inventory 863 681 -21.1%Number of New Listings 4,246 3,649 -14.1%Number of New Contracts 3,171 2,858 -9.9%Days on Market - New Contracts 28 27 -4.1%Average Sales Price $528,299 $572,490 8.4%Average Seller Subsidy $2,647 $2,556 -3.4%Average Urgency Index 77.5% 80.7% 4.1%Average Months' Supply 1.4 1.2 -12.5%

* Note: Percentages depicted in red indicate a negative market trend; black indicates a positive market trend

Year-to-Date


WASHINGTON, DC – Detail Pages

30-YEAR FIXED AND 1-YEAR ADJUSTABLE RATES Month-End Mortgage Rates – 2013-Current

MORTGAGE RATES • 30-year fixed interest rates at

the end of May averaged 3.15%, compared to 3.99% at the end of May 2019.

• One-year adjustable rate mortgages were 3.13% at the end of May 2020, which is down from 3.60% at the end of May 2019.

BUYING POWER • A $1,000 principal and interest

payment supported a loan of $232,701 at the end of May, which is $22,987 more than May 2019, and $44,496 more than May 2009.

• In May 2010, it would have taken a monthly PI payment of $2,013 to purchase a median-priced home. Today it takes a payment of $2,819 to buy a median-priced home. That’s a 40% increase - but the median price is 71% higher.

AVERAGE PRICES • The average sales price in

May 2020 was $747,103 an increase of 1.9% from the May 2019 average price of $733,274.

• DC has the highest average and median sales prices in the region by more than $100,000.

• Remember that the change in the average sales price – up or down – doesn’t mean that individual home prices are impacted the same way.

BUYING POWER Mortgage Amount with $1,000 Payment

AVERAGES SALE PRICE Washington, DC – 2012-Current

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URGENCY INDEX % of Contracts on the Market for 30 Days or Less

Washington, DC – 2016-Current

URGENCY INDEX Washington, DC – May 2009-2020

URGENCY INDEX DC Metro Area by Jurisdiction Comparison – May 2020

URGENCY INDEX - May • In the past 12 years, the May

Urgency Index has been as high as 76.7% and as low as 45.0%.

• The average May Urgency Index during the past 12 years is 68.4% – which is higher than where it is now in DC.

• Contract activity is down 13.9% from last May – and the Urgency Index decreased from 76.7% to 65.2%.

URGENCY INDEX – DC Metro Area • The average May Urgency Index

during the past 12 years for all five of the jurisdictions we track is 66.2% – lower than where we are today, which is 71.8% for all five jurisdictions.

• DC came in last this month. As noted above, it is lower than its 12-year average.

URGENCY INDEX – 2016-Current • This chart compares the number

of contracts (green line) to the percent that were on the market 30 days or less (blue bars). At first glance, it may appear that the lower contract activity also means a lower percentage of homes that sell quickly – but that’s not always true.

• Across the DC metro area, as contract activity has fallen in response to the COVID-19 pandemic, the urgency index has changed very little.

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NEW CONTRACT ACTIVITY • As noted on page 2, the number

of new contracts ratified in May 2020 was down 13.9% from May 2019. There were decreases for five price categories.

• As noted on page 3, contract activity year-to-date is down 12.8%.

• 23.1% of all homes going under contract in May had at least one price reduction. Last May it was 19.4%.

MONTHS’ SUPPLY • The overall supply of homes on

the market at the end of May 2020 was 1.7 months, up slightly from 1.6 months at the end of May 2019.

• DC has the most balanced supply in the region across all but the highest price category.

FULLY AVAILABLE LISTINGS • As noted on page 2, the available

inventory for May 2020 was down 9.5% from May 2019 and inventory decreased for five price categories.

• 30.9% of all homes on the market have had at least one price reduction since coming on the market. In May 2019, 32.6% of all homes on the market had at least one price reduction.

FULLY AVAILABLE LISTINGS Washington, DC – May 31, 2019 vs. May 31, 2020

MONTHS’ SUPPLY Washington, DC – End of May 2019 vs. End of May 2020

NEW CONTRACT ACTIVITY Washington, DC – May 2019 vs. May 2020 by Price Range

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# of Months' Supply

May 2020

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AVERAGE NUMBER OF DAYS ON THE MARKET – NEW CONTRACTS • The average number of days on

the market for all homes receiving contracts in May 2020 was 36 days, which was up 33.3% from 27 days last May.

AVERAGE NUMBER OF DAYS ON MARKET Washington, DC – May 2019 vs. May 2020 – New Contracts

NUMBER OF NEW LISTINGS, CONTRACTS AND ACTIVE LISTINGS • There were 1,087 new listings

that came on the market in May 2020, a 24.3% decrease from the 1,436 in May 2019.

• Note how consistent the gap between available inventory (green line) and contract activity (red line) has been over the 5+ years covered by this chart. That’s indicative of a very solid market over a long period of time.

SOME DEFINITIONS AND EXPLANATIONS TO AID YOUR UNDERSTANDING OF THE DATA • The data shown here are collected, in whole or in part, from the Metropolitan Regional Information System, Inc, and are believed to be reliable but are not guaranteed • “Sales” are transactions that settled during the statistical period; “Under Contracts” are contracts negotiated during the statistical period, but not yet settled • “Available Listings” reflects single-family homes, town homes, new homes and condos on the market at the end of the period in question. • “Months’ Supply” is simply the number of “Fully Available Listings” on the market at the end of the month divided by the number of “Contracts” ratified that month.

RELATIONSHIP OF SALES PRICE TO ORIGINAL LIST PRICE vs. DAYS ON MARKET • Initial pricing strategy is critical

to the listing process, regardless of market conditions. The longer a home sits on the market, the deeper the discount to its original list price will likely be.

• Homes settling in May 2020 that received contracts their first week on the market sold, on average, 0.82% above list. Those that took 4 months or longer to sell sold for 10.63% below the original price.

NUMBER OF NEW LISTINGS, NEW CONTRACTS, AND ACTIVE LISTINGS

Washington, DC – January 2014-Current

RELATIONSHIP OF SALES PRICE TO ORIGINAL LIST PRICE vs. DAYS ON MARKET

Resale Properties Sold in Washington, DC – May 2019 vs. May 2020

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Analysis by Property Type – Condo/Co-op

CONDO/CO-OP - LISTINGS • The number of new listings for

condos and co-ops coming on the market decreased 23.4% compared to May 2019.

• The fully available inventory of condos as of May 31, 2020 was 2.6% less than the same time in 2019.

LISTINGS

CONDO/CO-OP - CONTRACTS • The number of condos and

co-ops receiving ratified contracts decreased 16.6% in May 2020 compared to May 2019.

• Year-to-date, contract activity is down 14.7% compared to 2019.

CONTRACTS

CONDO/CO-OP – SETTLEMENTS AND AVERAGE PRICE • The number of condos and

co-ops settling in May 2020 decreased 43.5% compared to May 2019. Year-to-date, the number of settlements is down 12.1%.

• The average price was up 4.4% compared to May 2019.

• Year-to-date, the average price is up 6.8%.

SETTLEMENTS

Condo/Co-opListings 2019 2020 % Change 2019 2020 % Change$299,999 and under 110 70 -36.4% 122 127 4.1%$300,000 - $499,999 266 189 -28.9% 233 185 -20.6%$500,000 - $749,999 204 180 -11.8% 192 221 15.1%$750,000 - $999,999 82 79 -3.7% 97 123 26.8%$1,000,000 - $1,499,999 48 30 -37.5% 71 56 -21.1%$1,500,000 & higher 21 12 -42.9% 69 52 -24.6%Grand Total: 731 560 -23.4% 784 764 -2.6%

New This Month Total Active

Condo/Co-opContracts 2019 2020 % Change 2019 2020 % Change$299,999 and under 86 77 -10.5% 406 313 -22.9%$300,000 - $499,999 191 161 -15.7% 818 699 -14.5%$500,000 - $749,999 146 111 -24.0% 616 540 -12.3%$750,000 - $999,999 52 42 -19.2% 230 212 -7.8%$1,000,000 - $1,499,999 14 12 -14.3% 79 64 -19.0%$1,500,000 & higher 4 8 100.0% 34 34 0.0%Grand Total: 493 411 -16.6% 2183 1862 -14.7%

New This Month Year-To-Date

Condo/Co-opSettlements 2019 2020 % Change 2019 2020 % Change$299,999 and under 80 36 -55.0% 311 211 -32.2%$300,000 - $499,999 173 96 -44.5% 668 565 -15.4%$500,000 - $749,999 120 76 -36.7% 505 483 -4.4%$750,000 - $999,999 59 40 -32.2% 193 197 2.1%$1,000,000 - $1,499,999 24 7 -70.8% 68 68 0.0%$1,500,000 & higher 6 6 0.0% 28 34 21.4%Grand Total: 462 261 -43.5% 1773 1558 -12.1%

Average Sales Price: May 2019 May 2020 % Change YTD 2019 YTD 2020 % ChangeCondo/Co-op $547,030 $571,028 4.4% $534,572 $570,800 6.8%



Analysis by Property Type – Fee Simple Attached

ATTACHED HOMES – LISTINGS • The number of new listings

coming on the market in May 2020 for fee simple attached homes decreased 23.7% compared to May 2019.

• The fully active inventory at the end of May decreased 11.2% compared to the available inventory at the end of May 2019.

LISTINGS

ATTACHED HOMES – CONTRACTS • Contract activity for attached

homes increased 13.4% in May 2020 compared to May 2019.

• Year-to-date, contract activity is down 11.6% compared to 2019.

CONTRACTS

ATTACHED HOMES – SETTLEMENTS AND AVERAGE PRICE • The number of settlements

decreased 37.6% in May 2020 compared to May 2019. Year-to-date, the number of settlements is down 8.9%.

• The average sales price was down 3.8% in May 2020 compared to May 2019.

• The average sales price year-to-date is down 3.2%.

SETTLEMENTS

Fee Simple AttachedListings 2019 2020 % Change 2019 2020 % Change$299,999 and under 22 12 -45.5% 21 15 -28.6%$300,000 - $499,999 99 44 -55.6% 79 53 -32.9%$500,000 - $749,999 110 70 -36.4% 118 59 -50.0%$750,000 - $999,999 112 112 0.0% 79 97 22.8%$1,000,000 - $1,499,999 76 67 -11.8% 79 86 8.9%$1,500,000 & higher 54 56 3.7% 89 103 15.7%Grand Total: 473 361 -23.7% 465 413 -11.2%


Fee Simple AttachedContracts 2019 2020 % Change 2019 2020 % Change$299,999 and under 26 16 -38.5% 107 70 -34.6%$300,000 - $499,999 79 58 -26.6% 351 322 -8.3%$500,000 - $749,999 82 84 2.4% 406 361 -11.1%$750,000 - $999,999 97 81 -16.5% 370 329 -11.1%$1,000,000 - $1,499,999 47 43 -8.5% 219 190 -13.2%$1,500,000 & higher 20 22 10.0% 88 90 2.3%Grand Total: 351 304 -13.4% 1541 1362 -11.6%


Fee Simple AttachedSettlements 2019 2020 % Change 2019 2020 % Change$299,999 and under 10 8 -20.0% 64 67 4.7%$300,000 - $499,999 68 46 -32.4% 244 261 7.0%$500,000 - $749,999 84 48 -42.9% 318 290 -8.8%$750,000 - $999,999 78 62 -20.5% 305 260 -14.8%$1,000,000 - $1,499,999 70 27 -61.4% 229 166 -27.5%$1,500,000 & higher 28 20 -28.6% 80 86 7.5%Grand Total: 338 211 -37.6% 1240 1130 -8.9%

Average Sales Price: May 2019 May 2020 % Change YTD 2019 YTD 2020 % ChangeFee Simple Attached $861,017 $828,467 -3.8% $819,842 $793,847 -3.2%

Year-To-DateNew This Month


Analysis by Property Type – Fee Simple Detached

DETACHED HOMES – SETTLEMENTS AND AVERAGE PRICE • The number of settlements

decreased 25.6% in May 2020 compared to May 2019. Year-to-date, there has been an increase of 1.2%.

• The average sales price for detached homes decreased 1.7% in May 2020 compared to May 2019.

• The average price year-to-date decreased just 0.3%.

SETTLEMENTS

DETACHED HOMES – CONTRACTS • Contract activity for detached

homes decreased 5.6% in May 2020 compared to May 2019.

• The number of contracts year-to-date is down 9.4%.

CONTRACTS

DETACHED HOMES – LISTINGS • The number of new listings for

fee simple detached homes decreased 28.4% in May 2020 compared to May 2019.

• The number of detached homes on the market on May 31, 2020 was down 25.1% compared to May 31, 2019.

LISTINGS

Fee Simple DetachedListings 2019 2020 % Change 2019 2020 % Change$299,999 and under 12 9 -25.0% 12 8 -33.3%$300,000 - $499,999 36 21 -41.7% 48 29 -39.6%$500,000 - $749,999 53 31 -41.5% 62 45 -27.4%$750,000 - $999,999 45 26 -42.2% 45 37 -17.8%$1,000,000 - $1,499,999 45 25 -44.4% 44 27 -38.6%$1,500,000 & higher 41 54 31.7% 92 81 -12.0%Grand Total: 232 166 -28.4% 303 227 -25.1%


Fee Simple DetachedContracts 2019 2020 % Change 2019 2020 % Change$299,999 and under 8 4 -50.0% 32 25 -21.9%$300,000 - $499,999 23 18 -21.7% 121 100 -17.4%$500,000 - $749,999 30 31 3.3% 147 127 -13.6%$750,000 - $999,999 30 29 -3.3% 123 124 0.8%$1,000,000 - $1,499,999 31 20 -35.5% 115 103 -10.4%$1,500,000 & higher 21 33 57.1% 109 107 -1.8%Grand Total: 143 135 -5.6% 647 586 -9.4%


Fee Simple DetachedSettlements 2019 2020 % Change 2019 2020 % Change$299,999 and under 6 2 -66.7% 12 17 41.7%$300,000 - $499,999 18 9 -50.0% 79 77 -2.5%$500,000 - $749,999 31 21 -32.3% 107 100 -6.5%$750,000 - $999,999 27 25 -7.4% 90 97 7.8%$1,000,000 - $1,499,999 22 22 0.0% 103 106 2.9%$1,500,000 & higher 25 17 -32.0% 92 92 0.0%Grand Total: 129 96 -25.6% 483 489 1.2%

Average Sales Price: May 2019 May 2020 % Change YTD 2019 YTD 2020 % ChangeFee Simple Detached $1,065,579 $1,046,977 -1.7% $1,079,687 $1,076,489 -0.3%



Absorption Rate by Property Type The following tables track absorption rate by property type, comparing the rates in the just-completed month to the rates in the same month of the previous year. The absorption rate is a measure of the health of the market and tracks the percentage of homes that were on the market during the given month and in the given price range that went under contract. [The formula is # Contracts/(# Contracts + # Available).] An example: The absorption rate for attached homes priced $500,000-$749,000 in May 2020 was 58.7%; that compares to a rate of 41.0% in May 2019, and the increase means the market was better in 2020 for that type of home. If the absorption rate was less in 2020 than in 2019, we have put the 2020 rate in red. This month there was improvement for 10 of 18 individual price categories, and two remained the same.

ABSORPTION RATES – CONDOS AND CO-OPS • The overall absorption rate for

condos and co-ops for May was 35.0%, which was a decrease from the 38.6% rate in May 2019.

• The absorption rate for condos across most price ranges is more balanced in DC than anywhere else in the region.

ABSORPTION RATES – ATTACHED HOMES • The overall absorption rate for

attached homes for May was 42.4%, which is a slight decrease from the 43.0% rate in May 2019.

• Again, look at the balance across most price ranges.

ABSORPTION RATES – DETACHED HOMES • May 2020’s absorption rate for

detached homes was 37.3%, an increase from 32.1% in May 2019.

• And the balance among the price ranges is evident here as well.

Condo/Co-opAbsorption Rates Listings Contracts Rate Listings Contracts Rate$299,999 and under 122 86 41.3% 127 77 37.7%$300,000 - $499,999 233 191 45.0% 185 161 46.5%$500,000 - $749,999 192 146 43.2% 221 111 33.4%$750,000 - $999,999 97 52 34.9% 123 42 25.5%$1,000,000 - $1,499,999 71 14 16.5% 56 12 17.6%$1,500,000 & higher 69 4 5.5% 52 8 13.3%Grand Total: 784 493 38.6% 764 411 35.0%

May 2019 May 2020

Fee Simple AttachedAbsorption Rates Listings Contracts Rate Listings Contracts Rate$299,999 and under 21 26 55.3% 15 16 51.6%$300,000 - $499,999 79 79 50.0% 53 58 52.3%$500,000 - $749,999 118 82 41.0% 59 84 58.7%$750,000 - $999,999 79 97 55.1% 97 81 45.5%$1,000,000 - $1,499,999 79 47 37.3% 86 43 33.3%$1,500,000 & higher 89 20 18.3% 103 22 17.6%Grand Total: 465 351 43.0% 413 304 42.4%

May 2019 May 2020

Fee Simple DetachedAbsorption Rates Listings Contracts Rate Listings Contracts Rate$299,999 and under 12 8 40.0% 8 4 33.3%$300,000 - $499,999 48 23 32.4% 29 18 38.3%$500,000 - $749,999 62 30 32.6% 45 31 40.8%$750,000 - $999,999 45 30 40.0% 37 29 43.9%$1,000,000 - $1,499,999 44 31 41.3% 27 20 42.6%$1,500,000 & higher 92 21 18.6% 81 33 28.9%Grand Total: 303 143 32.1% 227 135 37.3%

May 2020May 2019

Documents

STATPAK JUNE 2020 WASHINGTON, DC… · The Washington, DC real estate market is showing some encouraging signs of recovering from the significant contraction brought on by the COVID-19