DC Market Update 1/21/2008

DC Market Update 1/21/2008

Current Number of Homes Active and Under Contract:

Here is the breakdown as of January 21st, 2008

The number of Active Properties have started to Increase a bit sharper compared to this same time period last year. Most likely many of the "Expired" listings from the end of '07 - are returning to the marketplace - many with new/lower prices and more buyer incentives.

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; 71 more on market from last week, but 13 "expired" - in reality 84 new listings came on the market.

Washington DC

Single Family: Actives: 1710 (Up 71 from last week) Expired: 13 Under Contract: 320

Condos: Actives: 1302 (Down 1 from last week) Expired: 8 Under Contract: 302

Arlington County

Single Family: Actives: 450 (Up 2 from last week) Expired: 2 Under Contract: 89

Condos: Actives: 520 (Up 10 from last week) Expired: 8 Under Contract: 82

Prince Georges County

Single Family: Actives: 6260 (Up 100 from last week) Expired: 33 Under Contract: 424

Condos: Actives: 815 (Up 14 from last week) Expired: 2 Under Contract: 80

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 Prince George County, Arlington and the rest of the Surrounding Washington DC area.