DC Now a Seller’s Market?
Most buyers and sellers of residential real estate don’t follow the market as closely as do real estate professionals, and when they read real estate news, it is often a national profile. While it’s great to know what’s going on in the national marketplace, real estate transactions are local, so buyers and sellers will want to note what’s going on in their immediate market.
In Washington D.C., the market has been the exception to the national rule since the mid-2006 market decline began. Not only did D.C. have fewer short sales and foreclosures than the national average, its recovery was rapid and steady. Washington D.C. has made news consistently as a national real estate market leader through the market crisis.
So what’s happening now in D.C. real estate? Here are the latest (December 2011) DC market stats from RBI (Real Estate Business Intelligence):
December 2011 Real Estate Market Statistics for Washington, DC
|
Statistic |
Values |
YoY |
MoM |
|
Total Sold Dollar Volume |
$265,698,142 |
+0.17% |
+15.58% |
|
Closed Sales |
495 |
+2.48% |
+10.74% |
|
Median Sold Price |
$414,000 |
+3.76% |
+4.81% |
|
Avg Sold Price |
$536,764 |
-2.26% |
+4.37% |
|
Avg Days on Market |
76 days |
-3.8% |
+4.11% |
|
Avg Sold to Orig List Ratio |
93.81% |
+1.72% |
-0.34% |
See the latest DC real estate market data
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