Well the numbers are in!!! Although I track inventory all year long to assist my many Buyers and Sellers, it seems that everyone is interested in "the official" year end statistics. Well for your viewing pleasure, here they are:
WASHINGTON DC CONDO/COOP HOUSING REPORT
DATA SOURCE: Metropolitan Regional Information Systems, Inc. (MRIS)
The AVERAGE PRICE for condos/coops in Washington DC for 2007 was $405,271....relatively unchanged from the 2006 average price of $406,501.
The MEDIUM PRICE for condos/coops in 2007 was also relatively flat;
with the price changing from $354,100 to $350,000; or about 1%.
Inventory was at the second lowest level in December 2007 at just below 1200 available units; only with February coming in with a slighly lower number. This should translate into a good spring market; especially as interest rates are trending lower.
So things continue to look good here in the Capital real estate market!
