Both the number of homes sold and median sale prices increased in much of Washington, D.C., last month, according to The Long & Foster Market Minute reports. Long & Foster Real 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 6 percent increase in the number of homes sold year-over-year, and properties continue to sell at a quick pace, with the city seeing a days on market (DOM) average of 24 days. Active inventory fell by 17 percent in the city compared to the same month in 2014. The median sale price of homes sold in Washington, D.C., increased by 4 percent year-over-year, though many individual neighborhoods in the city continued to outperform the District as a whole.

Across the city, many individual neighborhoods experienced significant increases in the number of homes sold in July. For example, the Georgetown neighborhood saw a 33 percent jump in number of units sold and the Shepherd Park and Petworth neighborhood enjoyed a 30 percent increase. The Adams Morgan and U Street neighborhood saw the number of homes sold increase by 29 percent.

According to July data, the median sale price in Washington, D.C., increased by 4 percent compared to the same month in 2014, but several neighborhoods enjoyed more significant growth. Median sale prices in the Cleveland Park and Kalorama neighborhood rose by 43 percent. Improvements were also made in the Columbia Heights and Mt. Pleasant neighborhood, which saw an increase of 25 percent, and the Logan Circle and Dupont neighborhood, which saw a 16 percent increase.

Active inventory decreased by 17 percent throughout the city in July. Both the Anacostia and Hillcrest neighborhood and the Shepherd Park and Petworth neighborhood saw decreases of 37 percent, followed by the Columbia Heights and Mt. Pleasant neighborhood with a 35 percent decline. The Brookland and Woodridge neighborhood saw a decrease of 27 percent.

The District experienced a days on market (DOM) average of 24 days in July. The Logan Circle and Dupont neighborhood experienced an average marketing period of just 13 days, followed by the Adams Morgan and U Street neighborhood with a DOM of 17 days. Four neighborhoods within the city saw a DOM average of 18 days.

“The United States’ economy has been having a good summer, and the positivity we’ve been seeing in previous months continued in July. The real estate industry also reflected these trends, which was evident in the number of homes sold in the Washington, D.C., region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “We feel confident that we’ll continue to see improvements in the market, and look forward to what the end of summer and start of fall will bring.”

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 you can subscribe to free updates for the reports in which you’re interested.