Tuesday, May 23, 2006

Year / Year Comparison: 1Q2006 / 1Q2005

I've begun analyzing 2005 sales data and comparing it to 2006 data. Slightly less than 12,000 transactions occurred in the District during 2005.

2005 Aggregated Sales Data

Four data points become apparent when analyzing the sales data:

  1. Throughout 2005, condos constituted anywhere from 47.3% to 57% of the monthly transaction volume in 2005.
  2. Average and median prices for condos flatten out in 1Q06 compared to 1Q05. Condo median prices grow approximately 3% in January, February, and March 2006 compared to 2005.
  3. Overall, price gains are still positive for the other types of housing units, providing some cover for the flattening condo prices.
  4. Transaction volumes are falling through the floor (-22% to -38%).

I wonder if condo prices have hit the top of the rollercoaster's incline and are now poised for a steep fall.

The tables below show the growth (+) or decline (-) of housing prices in 2006 vice 2005.

January YoY

February YoY

March YoY

Sunday, May 14, 2006

Analysis of 1Q 2006 sales data

I've had a chance to review sales data for DC home sales for the first quarter of 2006. It's rather inconclusive, but it does show that:

  • Average sales prices for condos declined (-2.67% January to March) while the median sales price increased (up 3.99% January to March).
  • Average and median sales prices for detached single family homes declined (-11.48% January to March and -4.65 January to March, respectively).

However, three months data is insufficient to determine a long-term trend.

Average Sales Price

Median Sales Price

Sales Volume

Friday, May 12, 2006

March 2006 Sales Data Available

Sales data for March 2006 has been uploaded to DCHomePrices.com.

714 residential sales were recorded in March. Average and median prices and volume by unit type are depicted below.

Monday, May 08, 2006

Sunday, May 07, 2006

February 2006 Condo Sales

I've added February 2006 DC home sales data to DCHomePrices.com, which can be searched and have the results displayed on a map of DC.

Now I've begun analyzing the data. Below is sales data for condos organized by zip code. Rowhouses, single-family homes, and semi-detached homes will follow. I've excluded multi-family from this analysis.

Total sales volume for the month was:

  • Condos: 234 units
  • Rowhouses: 99 units
  • Single family homes: 68 units
  • Semi-detached homes: 40