Washington, DC – Market Report 9/3/2009

04 Sep
September 4, 2009

The data below reflects residential real estate in Washington, DC for the month of July in 2009:

  • New Listings: 914
  • Total sold: 648
  • Avg. sales price: $483,477
  • Days on market: 88
  • Total pending: 682

In the District of Colombia, the total number of new listings has decreased only by a little over 7% compared to the number of new listings at the same time last year. New pendings has increased by 20% and the total units sold have improved by a little over 28%.

Average sales price has gone down 16.66% as the market adjusts, and the days on market have increased almost 19% over last year. Washington DC seems to attract a large number of young professionals who are first home buyers looking to take advantage of the $8000 tax credit, as well as a growing number of “empty-nesters” moving into the area for the conveniences it affords. Both groups are drawn by the availability and proximity of theater, sports events, shopping and the many fine restaurants from which to choose.

Market data and statistics provided by Ginny Gunther, Managing Broker, Avery-Hess, Realtors.

Search for Homes in all the DC Metro: www.averyhess.com

Learn more about Washington DC Homes for Sale >>

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  1. [...] Maryland lies northwest of Montgomery County, it is drawing interest as another suburb of the District of Columbia, especially for buyers entering the area.  Much of the appeal is due to more affordable housing [...]

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