Monday, January 11, 2010

MRIS December 2009 Sales Report: Preliminary data

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:

Anonymous said...

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.

Keith said...

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.