DC Market Update 12/31/07

DC Market Update 12/31/07

Current Number of Homes Active and Under Contract:

Here is the breakdown as of December 31st, 2007

The Home Inventory (Number 'Active') continues to decrease; especially this week. The number of "EXPIRED" Listings was quite large.

With the exception of Washington DC; Home Inventories remain higher than the same time last year.

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

example: Single Family Homes in DC; 26 less on market from last week, but 47 "expired" - in reality 21 new listings came on the market.

Washington DC

Single Family: Actives: 1638 ( Down 26 from last week) Expired: 47 Under Contract: 327

Condos: Actives: 1267 ( Down 44 from last week) Expired: 40 Under Contract: 335

Arlington County

Single Family: Actives: 457 (Down 14 from last week) Expired: 8 Under Contract: 76

Condos: Actives: 499 (Down 1 from last week) Expired: 12 Under Contract: 79

Prince Georges County

Single Family: Actives: 6176 (Down 128 from last week) Expired: 191 Under Contract: 431

Condos: Actives: 812 (Down 22 from last week) Expired: 25 Under Contract: 87

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.

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