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Condo Median Sold Price Up 8.1% over August 2011
  Median Sold Price Up 8.1% over August 2011
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Condo Median Sold Price Up 8.1% over August 2011
In Washington, D.C., the median sold price for Condo & Coop properties for August was $389,000, a decrease of 1.8% compared to July and an increase of 8.1% from Aug 2011.
The average days on market for units sold in August was 62 days, 11% fewer than the 5-year August average of 70 days.
    Condo New Contracts August 2012 There was a 3.1% month over month increase in new contract activity with 304 New Pendings; a 4.2% MoM decrease in All Pendings (new contracts + contracts carried over from July) to 476; and a 12.7% decrease in supply to 679 active units. Contract Ratio of 0.70 pendings per active listing is up from 0.64 in July and an increase from 0.36 in August 2011. The Contract Ratio is 72% higher than the 5-year August average of 0.41.
*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 ... more

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