DC-area home listings surged 45% in March

In March, the D.C. area saw a 44.5% increase in new home listings compared to February, with a 19.2% rise from last March. Concurrently, pending sales surged by 42.1%, totaling 4,952 contracts signed. Buyer interest is strong, reflected in a nearly 40% increase in showings. The median home price reached $625,000, a 4.2% annual increase, though the smallest since October 2023. Homes are selling faster, with a typical contract time of 12 days. Inventory remains low, with less than two months of supply available.