DC Real Estate News: Washington, DC : Market Update 3/8/10

Here is the breakdown as of March 8th, 2010

Spring is arriving and we are seeing inventory increase at a fast rate.  The good news is that the number of properties going Under Contract, is also increasing.

Across the board; inventories are the lowest since spring of 2007 - a sign of true market turn-around.

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: 1355 (Up 53 from last week)        Expired: 40         Under Contract: 646 (Up 15)

Condos:               Actives: 1173 (Up 42 from last week)        Expired: 21         Under Contract: 424 (Up 13)  

 

Arlington County

Single Family:      Actives: 324 (Up 30 from last week)            Expired: 4            Under Contract: 167 (no change)

Condos:               Actives: 477 (Up 32 from last week)            Expired: 7            Under Contract: 215 (Up 12)

 

Prince Georges County

Single Family:      Actives: 4003 (Up 70 from last week)       Expired: 95          Under Contract: 2203 (Up 12)

Condos:               Actives: 711 (Up 8 from last week)           Expired: 23          Under Contract: 201 (Up 16)

 

Montgomery County

Single Family:     Actives: 2227 (Up 103 from last week)        Expired: 22          Under Contract: 1704 (Up 51)

Condos:              Actives: 1058 (Up 44 from last week)          Expired: 20          Under Contract: 502 (Up 42)

 

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.

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016