MRIS released September's data for sales of existing homes in the District over the weekend. As in my District sales data, it shows that prices are falling, but volume is up. We're at the point where, at least in terms of dollar and sales volume, the metrics should be significantly higher than last year's, since we're marking the first anniversary of the financial collapse delivered to us by the Bagatelle brunching "kings" of Wall Street. Key points [YoY]:
- Dollar volume up 18.56%
- Average price is down 12.15%, median is down 4.7%
- Unit sales volume [aggregate] exploded 34.96%
- Home unit sales up 28.8%
- Condo unit sales up a whopping 41.76%
Sales prices were 91.78% of list. At September's sales pace, there is a 5.35 month supply of condos and 6.39 month supply of homes listed for sale, slightly higher than the previous month.