A decrease in active inventory of over 27% undoubtedly help fuel a 7.86% increase in average sale prices in Washington DC last month. Days on the market fell to an average of 74, while properties were selling for 95.1% on average of original list price. A total of 425 properties sold, of which 34 were short sales and 18 were bank-owned foreclosures. Here’s the breakdown by property type:
Single Family, Detached Homes
Average Net Sale Price: $681,784 after 97 days
Range: $46,950 – $3,250,000
Rowhomes/Townhomes/Duplex
Average Sale Price: $498,763 after 57 days
Range: $45,000 – $2,300,000
1 Bedroom, 1 Bathroom Condos/Coops
Average Net Sale Price: $302,035 after 79 days
Range: $26,476 – $518,300
2 Bedroom, 2 Bathroom Condos/Coops
Average Net Sale Price: $548,877 after 91 days
Range: $65,000 – $2,450,000
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