Inventory levels in DC are down nearly 600 homes from this time last year! In October, 432 properties sold, of which 12.9% were either short sales or foreclosures. Days on the market average 73, properties sell at an average of 94.2% of the original list price, and median sales price was down $10k ($399,900). Here are the averages based on property type, with no consideration for location:
Single Family, Detached Home
Average Sale Price: $705,586 after 74 days
Range: $50,000 – $3,350,000
Townhomes/Rowhouse/Duplex
Average Sale Price: $495,625 after 53 days
Range: $42,600 – $3,950,000
1 Bedroom, 1 Bathroom Condos/Coops
Average Sale Price: $317,492 after 56 days
Range: $75,000 – $660,000
2 Bedroom, 2 Bathroom Condos/Coops
Average Sale Price: $484,980 after 50 days
Range: $116,303 – $890,000