Washington, DC : Market Update 3/31/2008

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

Here is the breakdown as of March 31st, 2008

Typically the number of homes for sale in the Spring Market "PEAK" at the end of June. 

Most areas of Washington DC; the current inventory is already above the 2007 "peak".  Examples:

DC: 500+ Condos VS same time Last Year, 250 more Single Family Homes.

PG County: Over 300 more condos for sale and almost 1900 more Single Family Homes; than the same time last year. 

Washington DC

Single Family:     Actives: 1873           Expired: 45         Under Contract: 442

Condos:             Actives: 1526           Expired: 15         Under Contract: 365

Arlington County

Single Family:     Actives: 508             Expired: 10         Under Contract: 135

Condos:             Actives: 535             Expired: 5           Under Contract: 136

Prince Georges County

Single Family:     Actives: 6806           Expired: 118        Under Contract: 653

Condos:             Actives:  862            Expired: 16         Under Contract: 95

Montgomery County

Single Family:     Actives: 4796         Expired: 63       Under Contract: 981

Condos:             Actives:  1439         Expired: 18         Under Contract: 308

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 Greater Washington 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