DC Condo Prices Up in August 2010; The Rest of the DC Real Estate Market Hovers Nearby

DC Condos saw a 3.6% increase in median sales price in August over 2009. Single family homes dropped only 0.74% last month. Average sale price for condos remains higher than the past 5 years, while single family saw just a $2,000 drop from last year, hovering right around the same numbers as 2009.

Inventory for the month of August was up 7.1% for condos and down 1.1% for single family homes.

There were 537 sales last month, of which 21 closed were short sales and 72 were bank-owned. The DC market attributed to distressed sales is about 17.3%.

Stats courtesy of GCAAR.com