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 year-over-year decrease in the number of homes sold and an increase in median sale price in July. Active inventory fell by 8 percent in Washington, D.C., compared to the same month in 2013. July data also shows that in most neighborhoods homes are selling in a little under a month 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 July decreased by 4 percent year-over-year, although many individual neighborhoods experienced significant increases. For example, the Columbia Heights and Mt. Pleasant neighborhood saw a large 104 percent surge in number of units sold and the Logan Circle and Dupont neighborhood experienced a 43 percent jump. The Foggy Bottom and West End neighborhood followed with a 21 percent uptick in the number of units sold.

According to July data, median sale price in Washington, D.C., rose by 3 percent overall compared to the same month in 2013, but several neighborhoods saw larger increases in median sale price. The Southwest and Waterfront neighborhood saw the largest improvement at 27 percent. The Capitol Hill (NE) neighborhood saw an 18 percent increase. The Anacostia and Hillcrest neighborhood experienced a 17 percent jump in median sale price.

Active inventory decreased by 8 percent throughout the city in July. The Anacostia and Hillcrest neighborhood saw a 32 percent drop in active inventory. Three neighborhoods experienced an 18 percent decline, including the Brookland and Woodridge neighborhood, the Capitol Hill (SE) neighborhood, and the Southwest and Waterfront neighborhood.

In July, the District experienced a days on market (DOM) average of 27 days. The Columbia Heights and Mt. Pleasant neighborhood experienced a marketing period of 14 days, and the Chevy Chase neighborhood saw a DOM average of 18 days. The Logan Circle and Dupont neighborhood followed with a DOM average of 21 days.

“Throughout this summer the real estate market has stabilized and in many regions inventory is up, meaning more homes for buyers to choose from,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Meanwhile, sellers are continuing to benefit from speedy transactions, with our data showing days on market averages of three months or fewer in nearly all parts of the Mid-Atlantic. Overall, the market is well positioned for future growth.”

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.