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Following trends for much of the year, housing inventory remained tight in August in Washington D.C. as the housing market here continues to make significant strides toward recovery.

Last month, the average number of days a home was on the market dropped 30% from a year prior, according to the Greater Capital Area Association of Realtors. It means this strong sellers’ market shows no signs of abating in favor of buyers any time soon.

Housing inventory in Washington D.C. started to loosen from March to June this year, but supplies have been shrinking the past few months through August to significant lows. Available condo inventory dropped 20.8% in August and single-family home inventory dropped 5.4%.

And while inventory is tight and moving quickly…

And within the District, Columbia Heights and Mount Pleasant are among the regions in highest demand, with D.C. housing prices really skyrocketing, according to the Washington Business Journal. Properties in those neighborhoods regularly sold for more than 100% of their asking prices.

Penn Quarter and Shaw, two more of D.C.’s hottest neighborhoods, saw prices climb 38% from a year ago, with prices averaging $592,000. Cleveland Park and Kalorama saw median sale prices rise 30% from a year prior.

As nationwide housing prices are climbing, D.C. housing prices are proving one of the hottest gainers.  D.C. area housing prices rose 9.6% in July from a year prior, with the District itself welcoming 11.6% rise in prices.

For buyers, the nation’s capital…

Yes, the housing market is showing signs of recovery nationwide. But in Washington D.C., sales are especially hot, making this market much more of a sellers’ market than a buyers’ market lately.

Demand is very high in Washington D.C., but the supply is just not there right now, says a recent Washington Post article titled “Washington area homes fly off the listings fast,” which said the market is the tightest it’s been since before the housing market bubble burst.  Buyers are snatching up homes in as little as nine days in this hot D.C. housing market.

The end result is that prices in the hot D.C. housing market are steadily increasing. Median housing prices in D.C. were $529,000 in June, according to RealEstate Business Intelligence, which is up…

The strongest housing market is a walkable urban neighborhoods, like those in the U Street neighborhood, according to a report by the Fiscal Times, a newly started online business publication tied to the Washington Post.

Neighborhood walkability in D.C. draws homebuyers who want a small town feel in a big city as neighborhood walkability makes a trip to the grocery store feel more intimate than a grocery store trip by car would feel in the suburbs.

While Washington D.C. does boast a strong mass transit system with the Metro and busses, it’s the neighborhood walkability that connects homeowners to their surrounding blocks, fostering a sense of community. Zillow, a residential real estate website, often scores neighborhood walkability in its listings.