On the average, July’s numbers were not surprising: the dollar volume of sales was up 3.5% over last year, the average price was down 1.1% and the days on market were down 11.2%. This is a reflection of a slower summer market, that is still showing steady numbers.
The surprise came with the data from the District which was down in all categories for the first time in many months. DC’s dollar volume of sales was down 2.8%, average price was down 4.1% and even days on the market was up 7.1%. Whether this indicates a market that has hit its ceiling or not remains to be seen, as we watch and report on the numbers in the coming months.
*Statistics are taken from the Metropolitan Regional Information System ( MRIS)