Washington, D.C. Real Estate Market Update – September 2009

The numbers and statistics below are courtesy of the Greater Capital Area Association of Realtors. Interesting trends for the District of Columbia:

Condos and Coops

Average Sales Price Year-to-Date: $412,367
**Thus far, highest since 2005.

Inventory: Total at 1,229 listings
**2nd lowest since September 2008

Single Family Homes

Average Sales Price Year-to-Date: $557,725
**Lowest, by about $60k since 2005 (prices peaked in 2007)

Inventory: Total of 1,464 Listings
*2nd lowest in the last calendar year (August 2009 was the lowest)

Obviously the D.C. market is more complex than this overall picture paints. The 4 quadrants – SW, SE, NE, and NW – all have mini markets within themselves. But the bigger story is the LOW level of inventory throughout the District. While some areas have a HUGE supply, others have nothing. There’s also been recent additions of brand new construction in the District.

Please ask for more specific numbers.

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