Sold dollar volume is way down (-51%) as well as units sold (-45%). This is not a sign of a declining market but rather the opposite: we currently have an inventory crisis in SW and all of DC. This is why the sold dollar volume is so low compared to this time a year ago. With rates remaining low, buyer demand is high. I expect this trend to continue as long as inventory remains low. (The information below is deemed reliable but not guaranteed.)

January 2013 January 2012 % Change
Sold Dollar Volume $1,918,500 $3,937,000 -51.27%
Avg Sold Price $319,750 $357,909 -10.66%
Median Sold Price $319,500 $307,000 4.07%
Units Sold 6 11 -45.45%
Avg Days on Market 84 82 2.44%
Avg List Price for Solds $336,633 $375,127 -10.26%
Avg Sale Price to Original List Price Ratio 92% 89.70% 2.91%

Courtesy of Jason Martin, a real estate professional & resident of Southwest. He may be contacted by phone at (202) 641-0299 or by e-mail at jason@jasonmartingroup.com.

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