Washington Square West Real Estate Summary 2016

Washington Square West Real Estate 2016

The amount of homes sold in Washington Square and Washington Square West declined by approximately 13% in 2016. This was primarily due to a 21% in the number of properties offered for sale. See statistics and relevant graphs at the following link:

Washington Square West Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 1
Twins/semi-detached: 1
Townhouses: 72
Unit/Flat: 66
Mobile Homes: 0

Sales breakdown by Property Category

Condominiums (usually unit/flat): 86
Properties with Homeowner's Association (usually townhouses): 12
Other (usually singles and twins): 42
New Construction (could be of any type): 0

At the time of this post, there are 40 properties for sale in Washington Square and Washington Square West, about 3.5 months supply given that approximately 59 properties sold per month in 2016. A market with less than 6 month's inventory is considered to be a seller's market. This is contradicted somewhat by a decrease in the average price of homes sold of almost 5%. The decrease of more than 20% in the number of homes listed in 2016 and the relatively low (140) number of homes sold may have skewed the data. There was no new construction in this neighborhood in 2016.

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