D.C. housing prices up, sales down

Date: June 23 2008
Source: Washington Business Journal
Website: http://www.bizjournals.com/washington/stories/2008/06/23/daily9.html?f=et87&ana=e_du

A monthly report from the Greater Capital Area Association of Realtors shows home and condo prices in D.C. were up in May, but so were the number of listings and sales are down sharply.

The same report show prices and sales both lower in Montgomery County.

In the District, the median condominium price in May was $359,900, up 2.8 percent from May 2007. There were 1,530 condos listed for sale in May, up 9.2 percent a year ago, and actual condo settlements were down nearly 24 percent from a year ago.

Single-family home prices in D.C. were up 0.6 percent to $535,000. Single-family listings were up 19.1 percent and single-family settlements were down 15.6 percent.

The median condo price in Montgomery County last month was $270,000, down 5.3 percent from a year ago. Condo sales are down 27.1 percent.

Single-family prices in Montgomery County, at a median price of $455,000, is down 0.9 percent, while single-family settlements were down 20 percent from May 2007.