Home sales in the D.C. region’s market have slowed this spring and summer, and so have annual price gains. While sales have slowed, prices are still rising, which could indicate buyers are still willing to pay list prices or close to them for homes on the market here.
But the metric that measures the median selling price of all properties being sold, including those in the upper 5% of price range, is defined as the luxury market. In the D.C. metro, that is homes priced at $1.8 million or more.
“The most active buyers in the market right now are higher-income buyers,” said Lisa Sturtevant, chief economist at listing service Bright MLS . “Because they are more active in the market, they are actually skewing that median sold price, making it look like the overall market is seeing price ga