Condo sales fell in the District in November while single-family home sales increased and the median prices for both rose, according to the lates figures released by the city’s chief financial officer.
There were 203 condos sold in November 2010, down 7.7 percent from November 2009. Meanwhile, the sale of 349 single-family homes marked a 7.4 percent increase in activity.
Single-family homes went for a median price of $419,000, a 1 percent increase from a year prior. Condos went for a median $371,000, a 4.5 percent increase in price.
However, the average price for homes sold represent a much bigger increase, meaning a few mega-homes bumped up the average. The average price for single-family homes sold in November 2010 was $642,000, an 18 percent increase; condos’ average price was $452,000, a 30.6 percent increase.
Experts have singled out the Washington area as one of the few markets in the country where they expect 2011 home prices to continue a steady increase.
