Median sale prices across the Washington, D.C., real estate market increased by 10 percent on average in October, according to The Long & Foster Market Minute reports. Long & FosterReal Estate, the largest independent residential real estate company in the United States, has updated its neighborhood level versions of The Long & Foster Market Minute for 15 areas within Washington, D.C.

Overall, Washington, D.C., experienced a 9 percent increase in the number of homes sold year-over-year and a 10 percent jump in median sale price in October. Active inventory fell by 10 percent in the city compared to the same month in 2013. October data also shows that in most neighborhoods homes are selling 28 days or less on average. Many individual neighborhoods in the city, however, continued to outperform the District as a whole.

Across the city, the number of homes sold in October increased by 9 percent compared to the prior year, but many individual neighborhoods experienced significant increases. For example, the Georgetown neighborhood saw a 91 percent jump in number of units sold and the Spring Valley and Wesley Heights neighborhood experienced a 41 percent increase. The Shepherd Park and Petworth neighborhood followed with a 38 percent uptick in the number of units sold.

According to October data, the median sale price in Washington, D.C., rose by 10 percent overall compared to the same month in 2013, but several neighborhoods saw larger increases. Both the Spring Valley and Wesley Heights neighborhood and the Southwest and Waterfront neighborhood enjoyed the largest improvement at 26 percent each. The Capitol Hill (SE) neighborhood saw a close 25 percent increase.

Active inventory decreased by 10 percent throughout the city in October. The Southwest and Waterfront neighborhood had a 24 percent drop in active inventory, and the Brookland and Woodridge neighborhood saw a 22 percent decrease. The Penn Quarter and Shaw neighborhood experienced a 21 percent decline.

In October, the District experienced a days on market (DOM) average of 28 days. The Southwest and Waterfront neighborhood experienced a marketing period of 11 days, followed by the Capitol Hill (SE) neighborhood with a DOM of 12 days. The Logan Circle and Dupont neighborhood saw a DOM average of 16 days.

“October brought modest improvements to the Mid-Atlantic real estate market, including in the Washington, D.C., region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “In many areas we saw increases in the number of homes being sold, as well as some positive trends in median sale prices. These are welcome signs for real estate in the region, and with continued improvements being made in the economy, we expect a smooth end to 2014.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and users can subscribe to free updates for the reports in which they’re interested.