The market in DC is still in turmoil as buyers continue to flee the city.
As the market continues to undergo the largest price drops in the nation, the city is still recovering from the aftermath of the storm and the aftermath.
The National Association of Realtors reported that the median selling price in January was $2.7 million, down $4,000 from a year ago.
New listings rose in January from the previous month by $1.5 million, with new listings in the market now at their highest level since January 2017.
Residential listings increased by $3.4 million to reach a record high of 1,955,800 units, with prices increasing slightly at a 1.3 percent annual rate.
While the city continues to recover from the storm, many residents are still facing foreclosure on their homes, with the median sale price in the city at $2,873,300.
Rental rates in the metro area have also dropped.
For the third consecutive month, rent increased for a third straight month, according to the NAR.
There is also an influx of students who are moving to the region, with some students leaving the region to study at colleges and universities in New York City, Philadelphia, and Boston.