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DC Condo Prices Up, Inventory Down

  • June 14th 2010

by Mark Wellborn

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Median prices for condos in DC have increased compared to May 2009 and the number of units for sale has decreased, according to statistics released by the Greater Capital Area Association of Realtors (GCAAR).

In May 2010, the median price for condos in DC proper was $365,000, up almost 2.5% from May 2009 ($356,200). The condo supply was down about 5.3 percent with 1,393 condos listed compared to 1,471 in May ’09.

For single-family homes, the median price last month was not much higher than condos at $375,000, an 8 percent price drop from $408,000 last year. The drop in inventory for single-family homes was much more noticeable than it was for condos: In May 2009, there were 1,672 homes on the market; in May 2010, there were 1,351.

For a full breakdown of the statistics for DC and Montgomery County, see below:

DC Condo Prices Up, Inventory Down: Figure 1
Courtesy of Greater Capital Area Association of Realtors (GCAAR)

See other articles related to: dc condo market, dc condo prices, dc condos, dclofts

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc_condo_prices_up_inventory_down/2166.

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