Condo Median Sold Price Up 8.1% over August 2011

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Real Estate Agent with RLAH 11 Dupont Circle, Washington DC Licensed in DC & VA
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August 2012 Washington DC condo market report 

Median Sold Price Up 8.1% over August 2011

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August 2012 Condo Median Price Up Over 2011 

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.

 
August 2012 DC Condo Market Activity
 
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 in the buyer's favor. 

See more detail on DC condo & co-op market data for August 2012

 

Data by RBI (Real Estate Business Intelligence)

 

 

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