DC New Condo & Co-Op Real Estate Market Data
In Washington, D.C., the median sold price for Condo & Co-op properties for September was $355,450, representing a decrease of 8.6% compared to last month and a decrease of 0.4% from September 2011. The average days on market for units sold in September was 77 days, 2% below the 5-year September average of 78 days. There was a 4.6% month over month decrease in new contract activity with 290 New Pendings; a 3.8% MoM increase in All Pendings (new contracts + contracts carried over from August) to 494; and a 4.3% increase in supply to 708 active units.
This activity resulted in a Contract Ratio of 0.70 pendings per active listing, no change from August and an increase from 0.30 in September 2011. The Contract Ratio is 85% higher than the 5-year September average of 0.38. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.
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