DC Latest Condo & Co-Op Market Report

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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Posted by Susan Isaacs on 05/14/2013 06:08 AM   Comments (0)   Real Estate in the Regional Channel   dc latest condo coop market report  
Originally posted at: coolDCre: DC Latest Condo & Co-Op Market Report
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Susan Isaacs

The Isaacs Team

Washington, DC

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Coldwell Banker Residential Brokerage

Address: 1606 17th St NW , Dupont, Washington, DC, 20009

Office Phone: (202) 669-5343

Cell Phone: (202) 669-5343

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