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Washington, DC : Market Update 10/8/09

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

Here is the breakdown as of October 8th, 2009

The number of properties on the market continues to drop as the number of homes under contract rises. The end of a month always sees a higher number of homes "Expire" and come off the market; as well as the number of homes going "Under Contract" drops.

The next few weeks are key; as many buyers take advantage of the 1st Time Home Buyer Tax Credit before the looming deadline of November 30th.

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: 1642 (Down 56 from last week) Expired: 62 Under Contract: 736 (Up 14)

Condos: Actives: 1237 (Down 5 from last week) Expired: 54 Under Contract: 489 (Down 28)

Arlington County

Single Family: Actives: 435 (Down 5 from last week) Expired: 17 Under Contract: 181 (Down 11)

Condos: Actives: 479 (Down 10 from last week) Expired: 48 Under Contract: 189 (Down 7)

Prince Georges County

Single Family: Actives: 4603 (Down 120 from last week) Expired: 221 Under Contract: 2473 (Down 33)

Condos: Actives: 779 (Down 19 from last week) Expired: 48 Under Contract: 188 (Down 5)

Montgomery County

Single Family: Actives: 2823 (Down 60 from last week) Expired: 74 Under Contract: 1925 (Down 93)

Condos: Actives: 1145 (Down 25 from last week) Expired: 41 Under Contract: 514 (Down 7)

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.