DC Market Update 10/15/07

Current Number of Homes Active and Under Contract:

Here is the breakdown as of October 15, 2007

The number of homes for sale have increased greatly in the past few weeks.  While some increase is generally expected prior to the slow down of the winter months; current home inventory levels in most areas are the highest they have been all year.

Here are the number of homes on the market including the number of homes that were taken "OFF" the market last week.  

example: Single Family Homes in DC; 108 less on market from last week, but 135 were taken off - in reality 27 new listings came on the market.

Washington DC

Single Family:     Actives: 1936 ( Up 46 from last week)  OFF: 22      Under Contract: 379

Condos:                Actives: 1525 ( Up 50 from last week)  OFF: 13       Under Contract: 476

Arlington County

Single Family:     Actives: 596 (Up 18 from last week)   OFF: 3          Under Contract: 115

Condos:                Actives: 570 ( Up 15 from last week)   OFF: 8         Under Contract: 115

Prince Georges County

Single Family:     Actives: 6652 (Up 121 from last week)  OFF: 94       Under Contract: 555

Condos:                Actives: 820  (Up 23 from last week)   OFF: 9            Under Contract: 112

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.