MRIS released December's data for sales of existing homes in the District today. It would appear prices have turned around. Key points [YoY]:
- Dollar volume up 41.65%
- Average price is up 14.58%, median is up 13.36%
- Unit sales volume [aggregate] is up 23.63%
- Home unit sales up 36.56%; 11.6% of homes sold for more than $1MM.
- Condo unit sales up 8.3%; about 4% of condos sold for more than $1MM.
Sales prices were 92.67% of list. At December's sales pace, there is a 5.76 month supply of condos and 4.96 month supply of homes listed for sale.
Analysis forthcoming.
2 comments:
What are thoughts on the 92.7% sale to list price? I would think that would indicate a weak market and yet the prices are going up right now. I have a really hard time understand what's going on here in DC.
That ratio [sale to list price] isn't out of line. It's usually bopped around between 91-93% for as long as I can recall.
If you look at this post, you'll see that December was an anomaly in 2009: YoY prices fell almost every month that year and, in aggregate, price growth was mostly negative.
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