Ohhh wee! The Divas have not seen data like this since, like, forever! Here is the deal: we are right at the edge of 2007/2008 market pricing heights. As you know Single family homes include everything from townhouses to North Capitol Hill Manors. WE HAVE PASSED THE SEPTEMBER 2007 HIGH AVERAGE SOLD PRICE OF $837,000. The average price this last month was $956,000. Just to put it in perspective that is 14% above the height!!!! The Divas and the Diva Dudes are clapping and throwing glitter in celebration.
Now for the condos. Back in 2007 the average price of a condo was around $360,000 on Capitol Hill. Right now we are hovering around $300,000. The primary reason the sold prices are low is that there are NO TWO Bedrooms on the market. Back at the height, the months of inventory were closer to 2+ months. We most recently have been at one month of inventory for the longest period in the last seven years. In other words – expect us to pass 2007 heights by June!