For homeowners in Washington, DC, it appears that buyers have slowed their activity from February. Fortunately the area still has a fairly healthy market.
The median sold price is up slightly, as is the average sold price, from the previous year. Time to sell is virtually unchanged.
In terms of supply, in February 2011 there were 369 homes sold. When divided into the number of active listings, it signifies a 6-month supply of houses. This is an increase from the prior month, and it indicates a healthy market (defined by a 5-6 month supply).
Active listings were down in the District, and new listings were significantly down. This is most likely a result of the legal battles between the US government and the banks that are stalling the release of foreclosed properties. REOs, or Real Estate Owned, are what a bank calls the properties they take back through the foreclosure process.
|Washington DC||Mar-2011||Mar-2010||% Change|
|Avg Sold Price||$505,008||$468,691||7.75%|
|Median Sold Price||$379,950||$354,000||7.33%|
|Avg Days on Market||83||84||-1.19%|
|Avg Sold Price to List Price||93.7%||92.9%||0.83%|
If you are having trouble selling your house, call us today at 1-877-907-3232 or contact us to get an offer in hours from Express Homebuyers.