Washingtonians, you should be in a good place if you want wait to sell your home. In most areas, prices flatlined. In other areas, the results are even less favorable--unless you're a buyer, that is. Sales reports are in and they've showed that everything's gone the way of molasses and slowed down. Which means that it's good to be a buyer right now.
Many neighborhoods in the region are tied for the lead in the game of inertia. The median August sales price for a house or condo is $415,000, which is exactly the same as it was one year ago.
If you live in Alexandria, there's a pothole in the road of no uphill gain: the average sales price actually decreased by 6.6 percent to $445,000. Montgomery County suffered a similar fate: down 6.6 percent to $414,900.
There are some surprise winners: Falls Church City's median price increased by 42 percent over the last year to $825,000. Disclaimer: that figure is based on just 15 sales, so the sample size is insignificant, for all you statisticians out there.
But buyers, here's some more good news: the active inventory increased by 34.6 percent to 11,177 overall from a year ago.
· Alexandria housing prices lead area declines in August [WSJ]