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DC home sales slow, but prices are still rising

By Jeff Clabaugh

WASHINGTON — It takes more than half a million dollars to buy a median-priced home in the D.C. nowadays, but potential buyers — even those who can afford the D.C. market — continue to struggle to find something to buy.

Long & Foster Real Estate says the median sale price of a D.C. home in September was $522,135, up 3 percent from a year ago.

The number of closed sales was down 5 percent, and active inventory, or the number of condos and houses on the market for sale, was down 6 percent from Sept. 2017.

“If you are in the entry-level price point, or one level up, there isn’t much to buy,” said Long & Foster President Larry “Boomer” Foster.

Monthly home sales data are volatile, especially in D.C. where data are based on just a few hundred closings each month — 603 of them in September — but the turnover in listings remains brisk. Of the 1,797 active listings in D.C. in September, 1,445 were new listings that hit the market last month.

Washington’s Chevy Chase neighborhood was the priciest for sales in September, with a median sale price of nearly $1.25 million — a 48 percent jump from a year earlier, though that was based on just 12 closed sales.

The most active market for sales in D.C. last month were Anacostia and Hillcrest, accounting for almost one out of every five closed sales. Anacostia remains the most affordable D.C. market, with a median sale price of about $326,000 in September.

Below is a snapshot of D.C.’s September housing market activity. Click for a larger version.:

Here’s a look at D.C. real estate sales for September 2018. (Courtesy Long & Foster Real Estate)

Massachusetts court hears arguments in lawsuit alleging Meta designed apps to be addictive to kids

By The Associated Press
BOSTON (AP) — Massachusetts' highest court heard oral arguments Friday in the state's lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2023 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. “We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways,” said State Solicitor David Kravitz, adding that the state's claim has nothing to do the company's algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is “confident the evidence will show our longstanding commitment to supporting young people.” Its attorney, Mark Mosier, argued in court that the lawsuit “would impose liabilities for performing traditional publishing functions” and that its actions are protected by the First Amendment.
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