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.