Washington, DC Lease Trends: What Changed? 📉

[Dominic M.]

The residential lease market in Washington, DC, from January 2024 to January 2025 has experienced some changes:

Units Listed: The number of units listed decreased by 78, a 15.92% decrease, from 490 to 412.

Listed Median Price: The listed median price increased by $175, a 6.19% increase, from $2,825 to $3,000.

Units Leased: The number of units leased decreased by 58, a 19.86% decrease, from 292 to 234.

Sold Median Price: The sold median price increased by $100, a 3.51% increase, from $2,850 to $2,950.

Summary: A decrease in units listed and leased indicates a reduction in supply and demand year over year. The increase in listed and sold median prices suggests that rental prices are trending upwards. This could be due to a variety of factors, including market conditions and changes in demand.

What do you think is driving the changes in the DC rental market?