Washington, DC : Market Update 2/25/2008
Current Number of Homes Active and Under Contract in the Washington DC area:
Here is the breakdown as of February 25th, 2008
In the Washington DC area, The number of Homes on the market continues to increase and should continue to increase until early July.
The Washington DC Real Estate Market; does have a considerably larger inventory this year; comparedto the same time last year. There are over 50% more homes for buyers to choose from vs. end of February of '07. How this will play into going into spring; it yet to be seen.
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; 22 more on market from last week, but 22 "expired" - in reality 44 new listings came on the market.
Washington DC
Single Family: Actives: 1791 (Up 22 from last week) Expired: 22 Under Contract: 412
Condos: Actives: 1426 (Up 11 from last week) Expired: 11 Under Contract: 363
Arlington County
Single Family: Actives: 466 (Up 7 from last week) Expired: 3 Under Contract: 125
Condos: Actives: 515 (Up 18 from last week) Expired: 5 Under Contract: 122
Prince Georges County
Single Family: Actives: 6509 (Up 58 from last week) Expired: 65 Under Contract: 572
Condos: Actives: 818 (Down 2 from last week) Expired: 14 Under Contract: 97
Montgomery County
Single Family: Actives: 4482 (Up 42 from last week) Expired: 29 Under Contract: 830
Condos: Actives: 1342 (Up 3 from last week) Expired: 10 Under Contract: 301
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 Montgomery County,Prince George County, Arlington and the rest of the Surrounding Washington DC area.
Coldwell Banker Residential Brokerage
5028 Wisconsin Ave NW, Suite 100
Washington DC 20016
202-362-5800 Main Office
Licensed in DC,MD,VA
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