Photo by Kevin H.

The National Association of Realtors released their quarterly data today by metropolitan area. As reported by the Washington Business Journal, the headline number is that first quarter prices in D.C. were up 4.7 percent year over year for single-family homes.

Condo prices are broken out separately, and those were up 6.7 percent.

Despite the year-over-over improvement, prices were actually down quarter over quarter for both single-family homes and condos.

This is not unusual, as prices usually rise and fall with the seasonality of the housing market, peaking in the hotter spring and summer months. Condo prices peaked last spring at a median price of $244,000, and single family homes peaked last fall at a median price of $324,700, but have fallen 4.2 and 9.9 percent respectively since then.

The NAR data doesn’t include some foreclosures or new construction, so it’s just one data set of many, but it’s the latest and greatest that we have.

Also worth noting is that prices in Cumberland, Md. appear to have crashed 14 percent from this time last year. Any thoughts on what’s going on in Cumberland?