September DC Housing Report: More is Selling, For Less
The message in Keith Gibbons’ latest analysis of September housing prices is short, and seemingly sweet: sales volume is up and prices are down in the District when compared to a year ago. But as Gibbons’ notes, the market is still struggling to bounce back from the economic crisis that hit last September, so that headline is bittersweet. Below are two of his comprehensive charts that look at average sales prices and transaction volume in September followed by few highlights that we gleaned from the data.
- The average sales price for condos in the District dropped $41,000 from a year ago. For single-family homes, that drop was even more drastic (approx. $80,000).
- The number of condos that sold in September 2009 increased almost 40 percent over September 2008. The increase for single-family homes (28%) was not as significant, but still noteworthy.
- In both September 2008 and 2009, three-bedroom homes were the most popular property type sold in DC. When we asked a local agent what the reason was for this trend, she attributed it to the number of people that were likely choosing a favorable buyer’s market to upgrade from one and two-bedroom units.
See other articles related to: dclofts
This article originally published at https://dc.urbanturf.com/articles/blog/september_dc_housing_report_more_is_selling_for_less/1429.
Most Popular... This Week • Last 30 Days • Ever
As plans for a street reconfiguration at the intersection of New York and Florida Ave... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
On Wednesday, Airbnb launched the Icons Collection, approximately a dozen "one-of-a-k... read »
Plans for another residential project in downtown Bethesda are moving forward.... read »
Cash-out refinancing is a popular financial strategy that allows homeowners to conver... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro