Here’s the latest report on what we all want to know about Capitol Hill Sales – inventory and pricing. This helps further by placing both in recent historical context.
Inventory remains on the lowest end in the two decades reflected here – just 29 properties on the market on Jan 1, 2014 as opposed to 397 listings on that date in 1995 and 73 listings at the New Year in 2011.
The average sold price so far for 2014 is $681K while the median is at $640K. Homes in the $500,000-$1M range are up every year, as would be expected given the rapid increase in prices over the last few years. Only 1% of sales in 1995 were in that range, so far in 2014 that figure is 65%.
Average days on the market so far in 2014 is slower than 2013’s average: 38 vs. 28.
That’s what struck me! More detailed information can be found in the presentation below. Or click for a downloadable version.