Tuesday, April 13, 2010

MRIS March 2010 Sales Report: Preliminary data

While I was in New Orleans this past weekend, MRIS released March's data for sales of existing homes in the District. Prices continue to fall. Key points [YoY]:

  • Dollar volume up 24.94%
  • Average price is down 7.51%, median is down 5.6%
  • Unit sales volume [aggregate] is up 35.09%
  • Home unit sales up 48.84%; 30 homes sold for more than $1MM.
  • Condo unit sales are up 18.68% YoY, but prices fell 11.67% despite 12 condos selling for more than $1MM.

Sales prices were 92.67% of list, as in February [how likely is that?]. There is a 7.41 month supply of condos and 4.67 month supply of homes listed for sale.

Analysis forthcoming.

3 comments:

Jim Johnson,CRS said...

Looks like a good time to buy in your area. I hope you have a good year.

Keith said...

Single family homes in my neighborhood are going under contract within a week of hitting the market. There are exceptions, but in general the market for homes is robust.

Washington DC Web Design said...

I live by Union Station and all of our places seem to going under contract within two weeks. I have been looking for a new home but you need to be prepared to buy.