June was not a robust month for new homes on the market in the DC region. Active listings were down 20% compared to last summer and the number of new listings fell more than 40%.
June was not a robust month for new homes on the market in the DC region. Active listings were down 20% compared to last summer and the number of new listings fell more than 40%.
To put that shortage in a bit more perspective, Bright MLS provided UrbanTurf with the DC-area zip codes where the number of homes on the market have dropped the most since last June.
The Maryland zip code of 20902 that encompasses portions of Wheaton and Silver Spring has seen the number of homes for sale drop 60%, amounting to just a two-week supply. Following closely behind are the Rockville zip code of 20850 and the Virginia zip code that is home to neighborhoods like Barcroft and Forest Glen, where the number of listings on the market is half of what is was in June 2022.
Two Bethesda zip codes made the list thanks to a dearth of single-family homes for sale, and the 20005 DC zip code that is home to parts of Logan Circle and Thomas Circle has seen a serious drop-off in condos for sale, which has pushed inventory down significantly.
Photo Courtesy Will Hinostrova