November Condo / Coop sales in the Washington DC Real Estate market was consistent with the general single family home sales market – meaning: it was a solid month and showed that Washington DC proper is continuing to do well.

Compared to November 2008, November 2009 more than doubled in every significant category, however, that doesn’t really mean much since last November represented the end of the world as we knew it. But, even when compared to years past, November 2009 was strong. Let’s look at the graphics below…

As you can see by the sales indicators, there was an increase by 38.4% increase in terms of condo / coops put under contract during the month. But when you look at the graphical comparison through the year, November was respectable.

Now, everyone has been concerned that Condo closings will be more difficult in the District based on a lending and underwriting concerns, as the lenders are concerned that too many renters in any one building result in lower home values. Whether they do or not, the good news is that with the extension of the tax credit most buyers will continue to buy in this market.

The most fascinating overall statistic to me, though, is the graph below…

The market by price range is very indicative of what we see everywhere: the marketplace is telling us there is huge value out there and that if buyers see the value they close in on that and buy.

SO, as we look at the big picture, I’m encouraged by the trends and believe that with the value in the marketplace, and the continuation of the tax credit, the Washington DC condo /coop market will continue to be strong for both buyers and sellers.