D.C. condos show healthiest rebound
Prices and closings for condominiums and cooperatives in the
District are up, and inventories are down, showing the strongest market
trends among housing in D.C. and Montgomery County.
The Greater Capital Area Association of Realtors,
says the median condo price in D.C. in May was $365,000, up 2.47
percent from a year ago. The number of condo settlements was up 49.8
percent, while the number of condos listed for sale was down 5.3
percent.
Median prices for a single family home was down 8.09 percent from a
year ago, to $375,000, though sales were up 33.5 percent and listings
were down 19.2 percent.
In Montgomery County, condo prices were down 1.06 percent to
$210,000, while condo sales were up 24.8 percent and inventory was down
7.3 percent.
Sales of single-family homes in Montgomery County in May rose 27.9
percent compared to a year earlier. Listings were down 9.8 percent and
single-family median prices were down 3.51 percent to $371.500.