DC Real Estate News

Washington, DC : Market Update 9/22/08

Current Number of Homes Active and Under Contract in the Washington DC area:

Here is the breakdown as of September 22nd, 2008

This week inventory levels are up slightly; which is normal during the Fall "Selling Season". 

Montgomery County and Arlington County; continue to have inventory levels close to last year.

Washington DC, is seeing a spike in the number of Single Family Homes on the market.  Due mostly to slower home sales in NE and SE Washington DC (NW DC is under its 2 yr high in inventory by 7%, while DC as a whole is over its 2 yr high by 2%). 


GOOD NEWS !! in Prince Georges County; the number of properties for sale have dropped slightly from record highs - better yet - the number of homes under contract has reached a 2 year HIGH.  This could be a true sign that the market has in fact started to level-out.

Here are the number of homes on the market including the number of homes that were taken Off (EXPIRED) the market last week. 

 

Washington DC

Single Family:     Actives: 2025      Expired: 32          Under Contract: 485

Condos:              Actives: 1335      Expired: 13          Under Contract: 386

 

Arlington County

Single Family:     Actives: 494       Expired: 6            Under Contract: 153

Condos:              Actives: 533       Expired: 4            Under Contract: 118

 

Prince Georges County

Single Family:     Actives: 7293    Expired: 95           Under Contract: 1028

Condos:              Actives:  830     Expired: 7             Under Contract: 113

 

Montgomery County

Single Family:     Actives: 4968    Expired: 42          Under Contract: 1192

Condos:              Actives: 1423    Expired: 5            Under Contract: 322

 

It is important to see the number of homes taken "Off" the market.  While many of these homes will return to the marketplace a week or two; seeing a listing "expire" means that the seller and agent thought or expected the home to be sold by now.

 

 

     

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

 

 

 

0 comments • James Downing - REALTOR®,GRI, ABR - DC Real Estate • September 24 2008 11:11AM