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Washington, DC : Market Update 2/25/2008

By James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes

Real Estate Agent with Real Living | At Home

February 25, 2008 02:06 AM

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.