MRIS released June's data for sales of existing homes in the District today. A huge number of properties sold for more than $1MM, 51 of 612 sales. Key points [YoY]:
- Dollar volume up 4.49%
- Average price is down 6.25%, median is down 1.67%
- Unit sales volume [aggregate] up 11.27%
- Home unit sales up 16.67%
- Condo unit sales up 5.34%
Sales prices were 92.51% of list. At June's sales rate, the condo market has a 6.07 month supply listed for sale, which is actually a sign of a normal market.