>November Market Stats–Hot off the Presses!
The median price of a condo in D.C. in November was $371,000, up 4.15 % from last year. This rise came with a decrease in the number of closed sales, which were down more than 40% from 2009.
• Home prices in the Washington area showed the best gains in the nation in September, according to a 20-City Home Price Index by Standard & Poor’s/Case Shiller. Only one other market, Las Vegas, saw prices rise from September to August. Compared to a year ago, prices rose 4.5%, much more than the national gain of 0.6.%. That advance made the Washington area the third best among the top 20 markets.
“The Washington area is also showing resilience over the longer haul as well,” according to the Washington Business Journal. “Prices held up the best nationwide over a two year period, down just 0.6 percent compared with Sept 2008. The national decline was 8.75 percent.”
• Pending home sales jumped in October, showing a positive uptrend since bottoming in June, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator, rose 10.4 percent to 89.3 based on contracts signed in October from 80.9 in September. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
Here are the latest November statistics for Virginia, Maryland and the District.
Single Family Home/Condo
P.S. I took this picture somewhere in DC in November. If you can tell me where I was when I took this picture–you know and love DC as much as I do and get a fun prize from me! Just e-mail me at Jennifer@JenniferMyers.com