Decreased Inventory Drives Up DC Real Estate Prices By Over 10%

Active inventory dropped 14% from levels in June 2010. A drop in short sales and foreclosures – to 9.1% – also helped drive up Washington DC median sales price to 10.1% over June 2010. Average days on the market in the District is 68 and properties are selling, on average, for 95% of original list price. Below are average sales price based on property type, but does not separate for quadrant or condo v. coop. 

Single Family, Detached Home
Average Sale Price: $913,166 after 54 days
Range: $65,000 – $3,500,000

Townhome/Rowhouse/Duplex
Average Sale Price: $522,428 after 68 days
Range: $31,500 – $3,350,000

1 Bedroom, 1 Bathroom Condo/Coop
Average Sale Price: $299,508 after 81 days
Range: $42,500 – $640,000

2 Bedroom, 2 Bathroom Condo/Coop
Average Sale Price: $579,516 after 74 days
Range: $85,000 – $2,500,000