Washington DC Real Estate Market Update – December 2009 and Year in Review
What a year for Washington DC real estate. The followings numbers are courtesy of GCAAR.
State of the Condo/Coop Market
Inventory is down 22.2% from this time 2008
Average Sale Price is down from 2008, but still higher than 2006 and 2007
Number of units sold in 2009 was 2,868 – that’s 8.6% more than 2008
State of the Townhouse/Row-House/Detached Property Market
Inventory is down 27.6% from 2008
Average Net Sale Price is the lowest it’s been since 2005
Number of units sold was 3,467 – that’s 22.8% more than 2008
Prices are still down in many parts of the District (each quadrant of DC has a mini market within itself), so it’s a great time to start thinking about where to buy and invest in Washington, D.C.