Much like the surrounding areas of the D.C. Metro area, The District is at very low inventory levels too. So low in fact, that 52% of the condo/coop inventory in March sold in the first 30 days; for rowhouses/single family homes – it was at 42%.
Condo/Coop Inventory is down 16% from this time in 2009, but it’s the highest level since last August. Part of this comes from the fact that sales are up 27.5% from 2009, and average sale price is higher than 2006 and 2007, but only a smudge lower than 2009.
Rowhomes and Single Family properties have seen inventory levels fall by 31% since 2009. The number of units that traded hands last month is up 39.2% from 2009, probably because average sale price is at the lowest it’s been in the last 5 years.
Data provided courtesy of the Greater Capital Area Association of Realtors(R).