Residential Real Estate Market Report in SW

Steve Dean with ReMax offers a report on his blog of the current situation with residential real estate sales in Southwest, D.C.:

The residential area of Southwest DC is bounded by South Capitol Street to the east, 14th Street to the west, the Southeast-Southwest Freeway to the north, and Washington Channel to the south.

Here are the figures:
Currently For Sale: 55 homes (current asking price)
Low: $115,000
High: $899,900
Average: $322,416

Under Contract: 26 homes (asking price at contract)
Low: $109,900
High: $539,900
Average: $313,387

Sold since 1/1/2009 43 homes sold (final sales price)
Low: $90,000
High: $750,000
Average: $267,470

Average asking price for sold properties: $282,137

I cannot really imagine what would go for $90,000 and under what conditions. But it is interesting to note the range of prices. If you follow the link to Steve's blog, you will see that he always lists the maintenance/co-op/condo fees clearly. This is important information for assessing the real cost of living in Southwest.

Any thoughts on how this is going to change in the next 5-10 years with redevelopment of the waterfront?