Penn Quarter Condo Market: Time on Market Declines

Final Sales data for the second quarter (April 1st to June 30th) will not be available for 30 days. 36 Penn Quarter condos were listed in the second quarter. 8 Penn Quarter condos went under contract in two months with one more month to go in the normal 90-day listing. A bright note - was average time on market declined from 64 days in the first quarter to 41 days in the second quarter.

Of the 8 Penn Quarter condos listed and placed under contract in the second quarter, 5 were listed at $420,000 or less. Two were listed at $599,000. Condos priced under $599,000 have been the more active segment of the market.

Sales data excludes sales by builders.

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