Monday, May 12, 2008

MRIS April Housing Report: Preliminary data

We went to Rehoboth Beach this weekend for a quick getaway. While it was too cool to hit the beach, it was nice to stroll the boardwalk, shop a little, and park anywhere we wanted to because there were no parking meters! Apparently, the parking meters take the season off, too - none to be seen, they'd actually been removed from their pedestals. Ah, joy. The $2, generously sized mimosas at the Blue Parrot were a treat as well. I also noticed a few properties for sale with the magic word "Reduced" noted next to the price.

Now that we're back, I did a quick glance at MRIS' report for April's sales of existing homes/condos in the District. It's still bad out there. I'll post my usual analysis shortly, but at a glance MRIS shows:

  • Dollar volume down 39.18%
  • Number of units sold down 43.03%

Oddly, the average price rose 6.77% and the median price rose 4.53. A quick count showed that almost 10% of units sold for more than $1MM. The high end continues to skew the market.

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