|March 2011 Sales Summary for 20016|
- Compared to the same month in 2010, aggregate dollar volume was down 6.72%. Despite a 13.89% drop in unit sales, the average sales price rose 8.33% and the median sales price was up 6.4%.
- The average price for a condo fell 5.64%. The average price for a house was 17.6% higher.
- The 17 condos sold for prices between $200K-1MM, the 14 houses sold in the range $600-5MM.
- Unit sales for condos and houses fell by more than 10% each, down 10.53% for condos and down 17.65% for homes.
At March's sales rate there's a 4.8 months supply of houses and condos listed in 20016, breaking down to a 5.3 months supply of condos and 4.3 months for houses. Either way, a good market for sellers even though the number of homes listed rose almost 30% from March 2010. According to MRIS, properties in 20016 sold for 95% of the listing price.
The entry price for a house in zip code 20016 is about double that for a condo, but there are buying opportunities for buyers of either property type. More than half the condos listed were in the $200-400K price range while 60% of houses listed start at $1MM or more, making condos an easier lift for most buyers.
My good friends at Urban Turf published a version of this post a few days ago on their site.
Detailed Data for the Month
Average Sales Price
|March 2011 average sales price for 20016|
|March 2011 dollar volume for 20016|
|March 2011 unit sales for 20016|