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).
Monthly Price Movement
Monthly Dollar Volume
Monthly Sales Volume
Monthly Price Change (YoY)
Average Sales Price