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.