Nearly 35% of all of the properties sold during July in DC sold within 10 days of going on the market. With inventory down over 33%, it’s no surprise the median sale price increased almost 3% from last year and properties are selling for 96.8% of original list price, on average. A total of 658 sold in July and only 16 were foreclosures and 27 were short sales. Here are the averages by property type, not accounting for location:
Single Family, Detached Homes
Average Sale Price: $847,633 in 56 days
Range: $38,000 – $5,400,000
Townhomes
Average Sale Price: $562,238 in 45 days
Range: $45,000 – $2,470,000
1 Bedroom, 1 Bathroom Condos/Coops
Average Sale Price: $330,010 in 54 days
Range: $28,500 – $870,000
2 Bedroom, 2 Bathroom Condos/Coops
Average Sale Price: $593,010 after 59 days
Range: $250,000 – $1,400,000
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