Washington, D.C. Real Estate Market Update – November 2009
Although the District of Columbia has 4 markets in the 4 quadrants – NW, NE, SE, SW – the following stats are for the entire District. Please don’t base any specific properties on the following numbers, the intention is to provide an overall picture of the market.
Inventory is at the LOWEST it has been in the past 12 months – we had 1,129 active listings in November 2009, that’s 21.4% fewer listings that November 2008 (1,436).
Average sales price is just under 1% below this time in 2008, but still above 2006 and 2007. The average sales price is currently $408,134.
Same story here for the inventory: lowest by FAR in the last 12 months. We’re currently at 1,381 active listings, which is down almost 24% from November 2008 (1,809).
*Here’s the biggest difference* Average sales price is down to $552,061, by far the lowest price since 2005 (which was $628,179).
All stats provided by the Greater Capital Area Association of Realtors (GCAAR).