Although the District of Columbia has 4 markets in the 4 quadrants – NW, NE, SE, SW – the following stats are for the entire District. Please don’t base any specific properties on the following numbers, the intention is to provide an overall picture of the market.
Condos/Co-Ops
Inventory is at the LOWEST it has been in the past 12 months – we had 1,129 active listings in November 2009, that’s 21.4% fewer listings that November 2008 (1,436).
Average sales price is just under 1% below this time in 2008, but still above 2006 and 2007. The average sales price is currently $408,134.
Rowhouse/Townhouse/Detached Homes
Same story here for the inventory: lowest by FAR in the last 12 months. We’re currently at 1,381 active listings, which is down almost 24% from November 2008 (1,809).
*Here’s the biggest difference* Average sales price is down to $552,061, by far the lowest price since 2005 (which was $628,179).
All stats provided by the Greater Capital Area Association of Realtors (GCAAR).