DC Metro November Market: Foreclosed Sales/Inventory (Way) Down, Short Sales Up

As we touched on in the November DC market analysis, there has been a significant drop-off in market activity for foreclosed properties. The top four graphics highlight this decline, but you'll also notice an uptick in short sales during the same time period. The last two graphs illustrate how these shifts can impact median sales price trends.  Note that the median sales price for "standard" sales (those not involving a short sale or foreclosure) is up 3.4% compared to November 2009 while the median sales price for bank-mediated inventory is down significantly over the same period: 23% decline for foreclosures, 20% decline for short sales.

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