Wednesday, March 11, 2009

February MRIS Sales Report Released

MRIS released data on sales of existing homes in the District yesterday. The market continues its downward spiral. YoY:
  • Dollar volume down 35.07%
  • Average price fell 6.78%
  • Median price declined 13.04%
  • Total units sold fell 30.35%
On average, homes sold for 89.75% of list price, about the same as last month's figure.

The condo market may be collapsing: the number of units sold fell 45%. The number of sold homes declined 13.7%, in and of itself a large figure.

More later.

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