Washington, D.C. Real Estate Market Lacking Properties To Sell
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).