New District of Columbia Condo Sales Data for October 2012
Median sold price for Condo & Co-ops in Washington DC during the month of October 2012 was $389,000., an increase of 9.4% over September 2012 and 5.1% higher than October 2011.
Average days on market (DOM) for units sold in October was 57 days, 19% fewer DOM than the 5-year October average of 70 days.
A 1.7% month-over-month (MoM) increase in new contract activity showed 295 New Pending contracts; a 0.6% MoM increase in All Pendings (new contracts + contracts carried over from September) to 497; and a 2.3% decrease in supply to 692 active units.
This activity resulted in a Contract Ratio of 0.72 pendings per active listing, up from 0.70 in September and an increase from 0.35 in October 2011. The Contract Ratio is 85% higher than the 5-year October average of 0.39.
*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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