DC Latest Condo & Co-Op Market Report
DC Condo & Co-Op Prices
The median sold price for Condos and Co-ops in Washington DC for the month of April 2013 was $423,352., 7.2% higher than March 2013 and a 4.7% bump from the same period in 2012. The market continues to be driven by low inventory.
DC Condo & Co-op Days On Market
DOM for condo & co-op units sold during April was 45 days, 34% below the 5-year April average of 68 days.
New Contracts for Condos & Co-ops
DC saw a significant 20.2% increase from March to April 2013 in new contract activity with 435 New Pendings, a 16.5% bump in All Pendings (new contracts + contracts carried over from March) to 615, and a 10% increase in supply to 506 active units.
The Contract Ratio was 1.22 pendings per active listing, the same as March but a rise from 0.68 in April 2012. The Contract Ratio is 101% higher than the 5-year April average of 0.61. 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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Statistics by RBI (Real Estate Business Intelligence)