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DC December Housing Report: Prices and Sales Up

  • January 13th 2010

by Mark Wellborn

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Statistics indicate that December was a very good month for the DC area home market.

In his latest analysis, Keith Gibbons of DCHousingPrices reports that “unlike the past few months, sales, dollar volume and prices (in December) are higher than the same period last year.” This is not all that surprising given that the market is now bouncing back and last December the region was hurting like everywhere else in the country. However, Keith notes that these numbers are not all that “spectacular” in the context of the entire year, which he will be analyzing soon.

Below are two comprehensive charts that look at average sales prices and transaction volume in December followed by a few highlights.

DC December Housing Report: Prices and Sales Up: Figure 1

DC December Housing Report: Prices and Sales Up: Figure 2

  • Inventory is still tight in the region. At December’s sales rate, there’s a 5.76 months supply of condos and 4.96 months supply for houses. Despite those numbers, the condo supply actually grew 29.6 percent from November.
  • The average price for homes on the market actually increased for the first time in months. Prices were almost 15 percent higher in December 2009 compared to December 2008.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc_december_housing_report_prices_and_sales_up/1672.

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