Real Estate Results Way Down

GM finally got around to crunching the real estate numbers for the first half of 2011, and they’re not good. While the average price ticked up, the price per square foot is down and the volume is way down . Here’s how it breaks out:

  • Total Homes Sold:
    • First Half 2010: 147
    • First Half 2011: 107 (down 27%)
  • Average Starting Price:
    • First Half 2010: $1,377,478
    • First Half 2011: $ 1,471,836 (up 7%)
  • Average Selling Price:
    • First Half 2010: $1,242,767
    • First Half 2011: $1,307,922 (up 10 %)
  • Average Drop in Price From List:
    • First Half 2010: 9.8% drop
    • First Half 2011: 11.1% drop
  • Average $ per Square Feet:
    • First Half 2010: $719.05 $/SQF
    • First Half 2011: $685.68 $/SQF
If you’re more of a visual person, here’s how the respective periods compare in chart form:
You can see that in 2010, the volume picked up with the normal spring rush. In 2011, there simply was no spring rush. As someone who is currently house hunting, GM can report from the ground that this is true.
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3 Comments

Filed under Real Estate

3 responses to “Real Estate Results Way Down

  1. Curious

    Nancy Taylor’s surname – is it prounounced “boo-bays”, “boo-bees”, or “boobs”? I always feel so awkward when saying her name.

  2. GM

    It’s B-You-Bess.

  3. Pingback: Real Estate Result for First Half 2012 | The Georgetown Metropolitan

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