The median sale price of homes increased in 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 5 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 36 days. Active inventory fell by 9 percent in the city compared to the same month in 2014. The median sale price of homes sold in Washington, D.C., increased by 6 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 March. For example, the Brookland and Woodridge neighborhood saw a 54 percent jump in number of units sold and both the Anacostia and Hillcrest neighborhood and the Southwest and Waterfront neighborhood enjoyed a 35 percent increase.

According to March data, the median sale price in Washington, D.C., increased by 6 percent compared to the same month in 2014, but several neighborhoods enjoyed more significant growth. Median sale prices in the Penn Quarter and Shaw neighborhood rose by 45 percent—the largest growth across the city. Improvements were also made in the Brookland and Woodridge, and Shepherd Park and Petworth neighborhoods, which saw jumps of 39 percent and 23 percent, respectively.

Active inventory decreased by 9 percent throughout the city in March. The Southwest and Waterfront neighborhood had a 30 percent drop in active inventory, and the Shepherd Park and Petworth neighborhood saw a 28 percent decrease. The Adams Morgan and U Street and Chevy Chase neighborhoods both experienced a 24 percent decline.

In March, the District experienced a days on market (DOM) average of 36 days. The Capitol Hill (NE) neighborhood experienced an average marketing period of just 15 days, followed by the Southwest and Waterfront neighborhood with a DOM of 16 days. The Adams Morgan and U Street neighborhood saw a DOM average of 27 days.

“In March, we saw some positive trends in the Mid-Atlantic and Northeast real estate market, including in the Washington, D.C., region, where we saw increases in median sale prices and low inventory in many parts of the city,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “We saw consumer spending increase in March for the first time since November, and with rising consumer spending comes higher consumer confidence, and that bodes well for the housing market.”

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.