Low inventory levels continued to drive up prices in Washington DC last month. Inventory levels were 25% lower than this time last year, while prices were up almost 8% on average. A total of 541 properties sold in March, of which 22 were short sales and 19 were foreclosures. Properties were selling for an average of 95.4% of original list price.
Single Family, Detached
Average Sale Price: $844,651 after 87 days (median was 25)
Range: $68,000 – $11,000,000
Rowhomes/Townhomes
Average Sale Price: $556,417 after 76 days
Range: $28,000 – $4,400,000
1 Bedroom, 1 Bathroom Condos/Coops
Average Sale Price: $322,651 after 68 days
Range: $25,000 – $600,000
2 Bedroom, 2 Bathroom Condos/Coops
Average Sale Price: $545,687 after 63 days
Range: $155,000 – $1,8500,000