- I now provide sales information for the last three months of the current and prior year, e.g., August - October 2010 and 2011. Some readers didn't think data for one month provided sufficient insight into sales trends in a given zip code.
- Some folks had a problem with 2011 being the left-most column so to appease them I moved it to the right.
- Finally, I've combined the data into one table. Frankly, that makes my job easier.
Today I analyze October's sales for zip code 20009 using data provided by MRIS and RBI. Forty-seven units sold in 20009 in October 2011. Key points in October's data:
- Total unit sales were 9.62% lower. The average price for a home fell 22.9% and the median price was 16.21% lower.
- Eight houses were sold for an average price of $796,125, down 16.8%. Thirty-nine condos were sold for an average price of $402,850, down 11.44%.
- There were 208 active listings during October: 183 condos and 25 houses. More than half of the condos listed were priced $200-499K and most of the houses were listed at $500K or higher.
Overall, homes are selling quickly in 20009 - the average days on market fell to 62 days, down almost 13% from October 2010. Looking ahead, 48 homes went under contract in October and another 45 went under a contingent contract.
Based on the sales data, 20009 is a seller's market. Properties appear to move quickly, but there appears to be some wiggle room on prices. The good news for condo buyers is that prices are relatively affordable [for DC] and supply is high enough to offer choices.
My good friends at Urban Turf published a version of this post on their site a few days ago.