Washington, DC : Market Update 5/5/2008

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

Here is the breakdown as of May 5th, 2008

Home inventories dipped this week; as many homes "EXPIRED" or came off the market because their listing agreements ended.  Many will return to the market next week. 

example: Single Family Homes in DC; 14 LESS on market from last week, but 65 "expired" - in reality 51 new listings came on the market.

Washington DC

Single Family:     Actives: 1961 (Down 14 from last week)           Expired: 65         Under Contract: 503

Condos:             Actives: 1544 (Down 26 from last week)           Expired: 37         Under Contract: 445

Arlington County

Single Family:     Actives: 529 (Down 14 from last week)             Expired: 9           Under Contract: 147

Condos:             Actives: 544 (Down 5 from last week)               Expired: 10         Under Contract: 173

Prince Georges County

Single Family:     Actives: 6933 (Down 71 from last week)           Expired: 250        Under Contract: 763

Condos:             Actives:  855  (Down 26 from last week)           Expired: 29         Under Contract: 112

Montgomery County

Single Family:     Actives: 5135 (Down 35 from last week)           Expired: 114        Under Contract: 1149

Condos:             Actives: 1463 (Down 12 from last week)           Expired: 53          Under Contract: 339

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.