Friday, July 10, 2009

MRIS June 2009 Sales Report: Preliminary data

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.

Analysis forthcoming.

3 comments:

Brandon Green said...

"A sign of a normal market"--that's good to read.

Salmaan said...

How does this fit into your previous post suggesting condo sales are on "life support"?

Really not trying to be rude, just curious as it seems sales are good if the price is right.

Salmaan said...

How does this fit into your previous post suggesting condo sales are on "life support"?

Really not trying to be rude, just curious as it seems sales are good if the price is right.