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