Current Number of Homes Active and Under Contract in the Washington DC area:
Here is the breakdown as of June 2nd, 2009
The number of properties under contract are at HUGE high levels. In DC; there are more homes under contract at one time than there has been for years. The same holds true for Prince Georges County, Arlington County and Montgomery County.
These numbers; based upon observances in the field; lead me to believe - the unpredictable "bottom of the market" is somewhere close. Maybe behind us; maybe ahead - but not far.
Here are the number of homes on the market including the number of homes that were taken Off (EXPIRED) the market last week.
Washington DC
Single Family: Actives: 1864 Expired: 19 Under Contract: 697
Condos: Actives: 1388 Expired: 23 Under Contract: 496
Arlington County
Single Family: Actives: 466 Expired: 4 Under Contract: 244
Condos: Actives: 512 Expired: 2 Under Contract: 202
Prince Georges County
Single Family: Actives: 5547 Expired: 106 Under Contract: 1783
Condos: Actives: 819 Expired: 13 Under Contract: 137
Montgomery County
Single Family: Actives: 3591 Expired: 35 Under Contract: 2100
Condos: Actives: 1267 Expired: 16 Under Contract: 434
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.
Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!
Office: 202-362-5800 Cell: 703.244.3971
Licensed in Washington DC, Virginia & Maryland.
Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW Suite 100 * Washington DC 20016
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James
Your area is on fire; cool. It's crazy how unpredictable markets are. Great report. Give Casey a big scratch behind the ears from Lars and myself.