Tuesday, September 15, 2009

District Sales: June 2009

Hello, how are you? Long time, no data! Ever since I returned from Australia last December, I keep falling into the trap of having to process three month's worth of data at a time. It's a killer. Anyway, I've finished processing, geocoding, and uploading sales data for March through June 2009. I don't plan to perform an analysis of March - May's sales data, but I will soon post sales listings for purchase, yours for the incredible price of $0.99!

The table below shows June 2009 average and median sales prices and unit volume by zip code and the percentage change from June 2008.


There are still a lot of foreclosures working through the system. I counted 47 probable foreclosures in the data.

State of the Market

In June the District recorded 710 residential sales. Overall, prices were down, sales volume was up. District-wide, average sales price fell 11.67% and the median sales price fell 3.65%. The condo market suffered a 1.21% drop in unit sales and dollar volume declined 6.77%. The number of homes sold grew a robust 25.08% and dollar volume was similarly positive, up 2.11%. However, average and median sales prices for homes fell, down 18.37% and down 8.97%, respectively.

All Wards saw declines in average prices and only two (Wards 1 and 3) had positive median price growth.

Condo sales ruled Wards 1 and 2, constituting 71.3% and 76.72% of units sold, respectively.

Distribution of Sales

The chart below shows the distribution of June's recorded sales by sales price.


Detailed Data

Sales by Neighborhood

Category by Zip Code


Category by Ward

Disclaimer:

  • Unlike MRIS, my data and analyses include new units [primarily condos] so there will be some differences in my conclusions about the market's state compared to a similar analysis based solely on MRIS reports, which only report sales of existing units sold and/or listed by real estate agents.
  • This analysis is of sales recorded by the District during the month as opposed to sales settled in the month, which is what MRIS reports, so there may be some discrepancies because of timing issues. However, I believe the data do provide a helpful indicator of trends in the District.
  • Sales may have been recorded by the District's Recorder of Deed during the month yet may not appear in the District's real property sales database, my data source, many months later. Consequently, those sales will not be in the month's analysis.
  • My analysis is based on District sales and appraisal data that I've collected and processed. I've deleted those sales that appear to be of questionable data quality. Errors are always possible.
  • My analysis is limited to condos and single family homes; I omit properties the District classifies as multifamily conversions. I'm sure I'm excluding some properties that are legitimate single family homes, but I want to eliminate uncertainty.

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