MRIS released October's data for sales of existing homes in the District today. Prices continue to fall while more units are sold. Key points [YoY]:
- Dollar volume up 17.02%
- Average price is down 16.76%, median is down 3.66%
- Unit sales volume [aggregate] is up 40.58%
- Home unit sales up 45.88%
- Condo unit sales up 33.87%
Sales prices were 93.36% of list. At October's sales pace, there is a 6.11 month supply of condos [an increase from September] and 5.27 month supply of homes listed for sale [less than September].