Market stats

Washington DC Home Prices and Sales Soar in July.

Washington DC home prices continue to soar. Prices rose more than 11% as compared to the same time last year. The number of completed sales grew a whopping 23%!

July 2013 market statsAccording to RealEstate Business Intelligence, “Single-family detached homes and townhomes had the strongest sales growth of the property segments, each rising 19.6 percent from this time last year. This is the largest year-over-year growth rate for sales of single-family detached homes in over a year. Condo sales increased 17 percent from last July, which is the sixth consecutive month of double-digit growth for this segment.”

Statistics include:

  • The average sold price in July 2013 was $631,617, up from $568,686 in July 2012.
  • Days on market dropped more than 32%, with homes selling in an average of 35 days.
  • Nearly all homes sold in July were under contract in 10 days or less.
  • Home inventory remains lows with just 1,212 properties currently Active in the MLS.

The Washington DC condo market remains strong.  The average sales price was more than $462,000, with most condos selling between $300,000-$500,000. The number of units sold is up too. In July, 342 condos were sold as compared to just 281 in July 281.

If you would like detailed home sale information for your neighborhood, please give me a call at 703-963-0142 or send an email to robyn@robynporter.com. I’m happy to share the latest information.

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