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So this is interesting. This MRIS graph compares home sales in the District within the range of $30,000 to $500,000 looking at March 2009 in the left column and March 2008 in the right column. Sure, everything’s down a tiny bit year-over-year. But not by much.
| Total Sold Dollar Volume: | $ 202,925,321 | $ 210,508,482 | – 3.60 % |
| Average Sold Price: | $ 508,585 | $ 535,645 | – 5.05 % |
| Median Sold Price: | $ 375,000 | $ 399,500 | – 6.13 % |
| Total Units Sold: | 399 | 393 | 1.53 |
There are two main trends I’ve heard that could explain these numbers: First that more new homebuyers are jumping into the market, looking at middle-income properties presumably within this range. And second, that homes in the high six figures aren’t moving as quickly due to financing/mortgage rate issues. But agents are seeing an uptick in less expensive home sales.