Washington, D.C. Real Estate Market May 2010 – Activity Up!

The past few months we’ve seen a significant dip in inventory levels in Washington,D.C. May was a little different – inventory continues to climb for both condos/coops and row-homes/houses. However, activity in contracts and closings is up – 27.7% increase in contracts and 40.9% increase in settlements on single family homes, while condos/coops saw a 22.1% increase in contracts and 43.6% increase in settlements. As a result, prices for condos/coops is up, but prices for rowhomes and single family homes are still down.

Single Family Homes/Row Homes

Average Sale Price: $517,508
Days on the Market: 54


Average Sale Price: $416,370
Days on the Market: 63

Stats courtesy of GCAAR.com and MRIS