DMV home sale prices hit record high in April

State of play: The median sale price for a D.C.-area home in April was $640,000 — the highest since BrightMLS began tracking this data.

• That's a 9.2% increase from April 2023's median price of $586,000, per BrightMLS.

This comes amid overall low inventory and high demand in our region.

The intrigue: A big reason for this price spike is the number of all-cash buyers in the region who aren't affected by mortgage rates, BrightMLS chief economist Lisa Sturtevant told UrbanTurf.

• About a third of mid-Atlantic luxury home sales were all cash in the first quarter of this year, according to BrightMLS.

What we're watching: Active listings were up 21.8% last month compared to April 2023, found BrightMLS — fingers crossed that more available homes could provide some price relief.