Dupont Circle Third Quarter 2009

CONDOS SOLD IN DUPONT CIRCLE

In the third quarter of 2009, we found that the average number of bedrooms in a sold Dupont Circle condo was 1.2, reflecting the large number of studios and one-bedrooms in the neighborhood. We also found the following details about condo sales:

Average List Price: $399,074
Average Sales Price: $396,160 or 99% of list price
Average price per square foot: $527
Average days on market: 35
Average age: 71 (reflecting the large number of row home conversions to condo)

These statistics reveal a healthy market with buyers and sellers in a good equilibrium. Sellers are realistic in pricing their homes and achieving 99% of their asking price within 35 days on average.

Real Estate Round-Up

Focus on Logan Circle:

Here are some micro statistics about third quarter 2009 activity in the Logan Circle condo market (properties less than 6 years old).

Average sales price: $501,490
Average size of condo: 991 square feet
Average days on market (resales): 35
Average closed price as a percentage of list price: 98%
Average square foot price: $517
Percentage of sales with seller subsidies: 54%

Real Estate Round-Up

We are on vacation this week; back next week with more news and information.