The Real Deal New York

Washington D.C. real estate market is ‘considerably’ slower this year than last year

August 30, 2018 06:15PM

There’s more than one brand of deadlock happening in Washington D.C.: its real estate market is “considerably” slow this year when compared against last year, the Washington Post reported. Last July, homes in the metro area typically stayed on the market for 19 days. This year, that number stands at 39 days. Only 21 percent of homes that sold in July, meanwhile, sold in two weeks or less, compared to 43 percent last year. The slowdown may be due to an increased inventory in the city, with “buyers… feeling less frenzied and taking a bit more time in their home search,” the outlet reported. [WaPo]