Washington DC Real Estate Prices Climb Nearly 8% in February ...

A decrease in active inventory of over 27% undoubtedly help fuel a 7.86% increase in average sale prices in Washington DC last month. Days on the market fell to an average of 74, while?properties?were selling for 95.1% on average of original list price. A total of 425 properties sold, of which 34 were short sales and 18 were bank-owned foreclosures. Here?s the breakdown by property type:

Single Family, Detached Homes
Average Net Sale Price: $681,784 after 97 days
Range: $46,950 ? $3,250,000

Rowhomes/Townhomes/Duplex
Average Sale Price: $498,763 after 57 days
Range: $45,000 ? $2,300,000

1 Bedroom, 1 Bathroom Condos/Coops
Average Net Sale Price: $302,035 after 79 days
Range: $26,476 ? $518,300

2 Bedroom, 2 Bathroom Condos/Coops
Average Net Sale Price: $548,877 after 91 days
Range: $65,000 ? $2,450,000

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Source: http://arlingtonrealestatenews.com/washington-dc-real-estate-prices-climb-nearly-8-in-february-2012/?utm_source=rss&utm_medium=rss&utm_campaign=washington-dc-real-estate-prices-climb-nearly-8-in-february-2012

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