Washington, DC : Market Update 2/11/2008

Washington, DC : Market Update 2/11/2008

Current Number of Homes Active and Under Contract:

Here is the breakdown as of February 11th, 2008

In the Washington DC area, Homes for sale; continue to placed onto the market. Inventories are increasing as a prelude to the Spring Selling season. Inventories should continue to increase until early July.

While Inventories are slightly higher than last year in Arlington and the District; Prince Georges county, continues to have a near-record inventory level; (about 80% 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; 76 more on market from last week, but 17 "expired" - in reality 93 new listings came on the market.

Washington DC

Single Family: Actives: 1730 (Up 76 from last week) Expired: 17 Under Contract: 370

Condos: Actives: 1391 (Up 68 from last week) Expired: 15 Under Contract: 327

Arlington County

Single Family: Actives: 456 (Up 11 from last week) Expired: 5 Under Contract: 106

Condos: Actives: 485 (Up 12 from last week) Expired: 5 Under Contract: 103

Prince Georges County

Single Family: Actives: 6333 (Up 167 from last week) Expired: 67 Under Contract: 521

Condos: Actives: 824 (Up 19 from last week) Expired: 9 Under Contract: 92

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.

RE/MAX Allegiance - Georgetown
1720 Wisconsin Ave NW
Washington DC 20007
202-338-8900 Main Office
Licensed in DC,MD,VA