Washington DC Real Estate Sees Nearly 7% Increase in Prices

Washington DC saw a 6.8% increase in median sales price in February 2011 over last year. Undoubtedly helped by the 4.2% drop in inventory levels and increase in number of units sold. Of the 384 properties sold, 23% were either short sales or foreclosures. Here’s the sales breakdown:

Single Family Homes (all of DC, not broken down my quadrant or neighborhood)
Average Net Sale Price: $531,423 after 89 days
Range: $23,500 – $2,540,000

Townhomes (all of DC, not broken down my quadrant or neighborhood)
Average Net Sale Price: $510,899 after 81 days
Range: $48,000 – $5,397,500

1 Bed, 1 Bath Condo/Coop (all of DC, not broken down my quadrant or neighborhood)
Average Net Sale Price: $281,770 after 77 days
Range: $9,000 – $570,000

2 Bed, 2 Bath Condo/Coop (all of DC, not broken down my quadrant or neighborhood)
Average Net Sale Price: $577,580 after 106 days
Range: $150,000 – $1,496,000