Hi! I’m Brad Chandler of Express Homebuyers and the Following is your December 2011 Real Estate Statistics for the District of Columbia
The average sales price of a home sold in December was $536,764, a decrease of 2% from a year earlier. 495 homes were sold in the District in December, a 2.5% increase from last December. Those homes took on average 76 days to sell – this is a decrease of almost 4%. Based on 447 homes being sold in November there is a 3.7-month supply of homes. This means that if buyers continued to buy at the same pace as they did in November each month going forward and there were no new homes placed on the market for sale, the supply of houses for sale would run out in less than 4 months. Sellers are getting on average 94% of what they list their home for. So if a seller listed their home for $100,000 they would, on average, end up selling it for $94,000. The District currently has 1,657 homes for sale. This number has decreased 27% from a year ago, while the number of homes that came on the market in December – 409 – decreased by 15%. The number of new contracts that buyers placed on homes for sale increased from 468 to 475 – virtually the same from a year ago. Other than active listings and new listings being significantly down, little has changed from a year ago. The supply of houses indicates a very healthy real estate market in DC. Speculation is that banks will begin to process more foreclosures, thus pushing up new and active listings. We will have to wait and see on that. If you have any questions about this information or selling your DC house fast please contact us at the number above.
|Washington DC||December 2011||December 2010||% Change|
|Avg Sold Price||$536,764||$549,163||-2.26%|
|Median Sold Price||$414,000||$399,000||3.76%|
|Avg Days on Market||76||79||-3.80%|
|Avg Sold Price to List Price||93.8%||92.2%||1.72%|