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.