There were 2,684 homes sales in the DMV last month and 29.1% of them were for condos/coops which is the highest proportion since January 2008. The median sales price also continues an upward trend rising to $355,000—almost 12% higher than this time last year. It is a the fifth month in a row that prices have seen a double-digit increase which is completely consistent with how excruciatingly low the inventory is. By the end of February there were only 6,092 active listings in the area, with about 1,500 of them inside District boundaries. RBI breaks it all down in their new report.
· February 2013 Housing Market Update [Official Site]