The nation’s capital has been locked into a torrid heat wave and local housing sales have followed suit. The recent uptick in activity is likely to continue throughout the rest of the summer and into the fall months as well. There has also been talk of a potential interest reduction by the Fed in September which could further stimulate real estate transactions.

This is a good time to look back on the first six months of the year. There were 27 sales from the beginning of January to the end of July, with an average closing price of $1,833,589, and an average DOM (days on market) of 39. Interestingly, that 39 days is a noticeably tighter figure than our previous report of 55, another indicator of an increased appetite from buyers during peak season.

The lowest-priced sale during this six-month period was $875,000 for a historic 1875 townhouse described as a total rehab project, followed by another fixer-upper that listed for $850,000 before being bid up to $1,040,000. Once common, these types of renovation projects have become increasingly rare in the Dupont Circle area. Meanwhile, the highest priced sale was a meticulously remodeled five-bedroom Federal-style rowhouse that closed at the full asking price of $3,325,000.

I hope you’re able to find ways to stay cool and entertained in Dupont Circle as the summer continues, be it a cold treat at Larry’s Homemade Ice Cream or an outdoor movie night at Mitchell Park’s Films in the Field series. And as aways, feel free to contact me with any questions about the real estate market in our beloved neighborhood. Reach out and let's start a conversation!