MRIS released April's data for sales of existing homes in the District today. A huge number of properties sold for more than $1MM, 31 of 417 sales. Key points [YoY]:
- Dollar volume flat, up 0.62% [flat is the new "growth"]
- Average price is down 11.2%, median is down 10.98%
- Unit sales volume [aggregate] up 13.32%
- Home unit sales up 17.82%
- Condo unit sales up 7.83%
Sales prices were 91.15% of list, about the same as March. At April's sales rate, the condo market has a 9.9 month supply listed for sale, a 10% slip from March.