Friday, January 15, 2010

MRIS 2009 Full Year Report

MRIS has not yet released its full year summary report for signed sales contracts for existing home and condos in the District during 2009. However, I have all the data so there's nothing stopping me!

In many ways, 2009 was a good year for residential real estate sales in the District. Generally, more units sold and the total value of homes sold increased in 2009, but prices fell. Key points are in the table below.

Highlights for the year YoY:

  • More homes and condos were sold. Sales volume grew 10.23% for condos and 22,63% for homes. All categories of homes experienced respectable sales growth in 2009.
  • Condo dollar volume increased 10.62%, but home dollar volume was essentially flat, up a mere 1.78%.
  • Although more units sold and the dollar volume grew, average prices were unchanged or negative. Condo prices tread water in 2009, up 0.35%. Home prices took a hit, down 17.01%. Every home category saw double digit price declines.

It's important to note that December 2009's prices were higher when compared to January 2009. In other words, the average price for a condo in December was 9.18% higher than January's average price. Similarly, the December home price was 1.03% higher and, overall, the average price in the District grew 3.36% January to December.

Looking at the graphs below, you'll observe that the number of condos and homes sold peaked in July - each subsequent month had lower sales volume except for spikes in October (homes) and November (condos).

Detailed Data

Monthly Price Movement

Monthly Dollar Volume

Monthly Sales Volume

Monthly Price Change (YoY)

Average Sales Price

Dollar Volume

Transaction Volume

8 comments:

leeinDc said...

Excellent work on this entry and past entries.
Thanks

Keith said...

leeinDc:

Thanks for the kind words.

Anonymous said...

The tale of DC housing continues. Keith do you have any thoughts on what 2010s full year will look like? Any predictions for DC? That might be a good post...

Edaniels3 said...

Keith, you give a great summary of the DC market and seems to have many of the same qualities that we are seeing in Metrowest Boston. The real estate market data from month to month many times confuses "joe homeowner", so this yearly data is much more accurate. Fact is: lots of sales but either lower end housing or people really had to adjust their pricing from last year.


Amazed you just have an interest in real estate. Hope your licensed and could be a resource for a local Realtor down there!

Ed Daniels - Metrowest Boston Real Estate
www.Metrowesthome.com

dih123 said...

As always, thank you for the great posts. Quick question: do you have this data disaggregated by zip code and/or neighborhood?

thanks, and keep up the good work!

Keith said...

@Edaniels3:

Thanks for the positive feedback.

I was licensed in New Orleans, LA, but I let that expire years ago.

Keith said...

@dih123:

Thanks for the kind words.

I can't do that kind of analysis using MRIS' data. I can and do using the District's data. The problem I find is that collecting and fixing the District's data is so time consuming that more frequently than I like, I fall far behind in processing the data. The task can appear so daunting at the outset that I hesitate to begin.

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