Serving the GW Community since 1904

The GW Hatchet

AN INDEPENDENT STUDENT NEWSPAPER SERVING THE GW COMMUNITY SINCE 1904

The GW Hatchet

Serving the GW Community since 1904

The GW Hatchet

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D.C. housing market hits highest level in a decade

The D.C. housing market hit its highest level in a decade, the Washington Business Journal reported Monday.

The number of closed sales from the month of July increased more than 15 percent since the year before and signed contracts increased nearly 10 percent.

In the past year, the number of housing options in the greater D.C. area went up as well, an increase of about 12 percent. Condo inventories grew about 23 percent in the past year, according to the data.

The median sales price increased by a 1.1 percent rate to $432,500. Last July, the median price matched the highest July since 2007.

Last June, the number of houses sold in the D.C. metropolitan area reached a high not seensince June 2006, and the increases are on par with citywide population growth for the past decade.

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