A recent report indicates that the housing market in Washington, D.C., may have plateaued, says The Washington Post.
However, according to the newspaper, with housing market uncertainty throughout many other parts of the country, this may not be an entirely negative trend.
"In 2011, we had a hodge-podge of pluses and minuses, making it more of a dull plateau," said the news source. "Still, given the turmoil in other parts of the U.S., this is a fine predicament."
One area of the capital's housing market that appears to have significantly flattened out is in regard to the average price of homes for sale in Washington, D.C.
According to the source, when the market peaked in 2007, home prices averaged $918,074, while reaching a low of $819,145 in 2009. That same year only 1,978 units were sold – compared to 2,153 at the peak.
However, between 2010 and 2011, home prices remained relatively flat at $834,749 and $839,263, respectively. Despite the slight increase, the number of sale transactions fell from 1,978 in 2010 to 1,964 in 2011 – resulting in relative equilibrium throughout the local housing market.