Days on Market Rise Across DC as Vendor Discounts Deepen

Property listings in Washington DC are taking longer to sell this summer, pushing more sellers to slash their asking prices even in established neighborhoods like Georgetown and newly popular areas such as the H Street Corridor.

The shift in days on market—how long listings sit unsold—comes at a pivotal moment for district real estate. With mortgage rates above 7% since May, and household budgets squeezed by stubborn inflation, buyers are harder to pin down. That has forced vendors to negotiate more aggressively on price, especially after the record-breaking surges of 2022-2024. The result: homes are languishing, even as the city’s median sale price hovers around $700,000.

Georgetown Holds, H Street Stalls

Nowhere is this trend clearer than west of Rock Creek Park, where Georgetown’s stately rowhomes still command a premium but are spending nearly 26 days on market on average—up from just 11 days last July, according to Bright MLS. In contrast, new supply along the H Street NE corridor, dotted with glassy condos and rehabbed townhouses, is taking up to 34 days to sell. At The Apollo, a high-profile development near 8th Street NE, list prices have dipped by as much as 4% since April, according to data from Long & Foster Real Estate.

This marks a stark reversal from the spring, when tightly held pockets like Capitol Hill routinely saw bidding wars and homes moving in under a week. "We’re not talking about a collapse, but we’ve moved from a seller’s market to something more balanced," said a longtime local agent, declining to be named when discussing current discounting practices.

Price Cuts and Stubborn Stock

According to Bright MLS, 38% of all single-family listings in DC experienced at least one price reduction in June—up from 22% a year ago and the highest since 2020. The average reduction stands at $34,700. On Blagden Alley in Shaw, a three-bedroom townhouse listed at $1.28 million dropped in price twice in June, eventually closing at $1.18 million after 48 days on the market. Meanwhile, across the river in Arlington, Redfin reports median days on market for condos climbed from 21 to 29 days between May and June, illustrating the cooling effect rippling through prime commuter zones.

Conversely, Navy Yard remains comparatively resilient, with waterfront condos on Tingey Street SE moving within 18 days and fetching close to list price, fueled by rapid job growth at the Department of Transportation's nearby headquarters. Yet even here, the glut of new inventory has forced occasional discounts: a two-bedroom at District Winery recently saw a $20,000 reduction before signing.

What’s Next for Buyers and Sellers

While property values haven’t tumbled, agents expect vendor discounting to intensify through the fall unless borrowing costs relent. The city’s annual Open Doors program, set to relaunch in September, is likely to offer relief for first-time buyers with grants, but will do little to stoke immediate demand. For sellers, the data is plain: pricing realistically from the start and being prepared for longer listing periods are now musts. Buyers, meanwhile, have more leverage than at any time in the past three years, especially for homes that have lingered for a month or more. By autumn, unless mortgage rates drop, DC’s property market will likely remain a game of patience and price cuts.