Washington, DC : Market Update 4/21/2008

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

Here is the breakdown as of April 21st, 2008

The number of properties continues to increase throughout the Washington DC area.  Most notably in Prince Georges County; where there is currently a record number of homes for sale - 45-50% MORE than this same time last year.

Inventories inside the District and Arlington County are higher than last year by 10-20%.

example: Single Family Homes in DC; 33 more on market from last week, but 10 "expired" - in reality 43 new listings came on the market.

Washington DC

Single Family:     Actives: 1956 (Up 33 from last week)           Expired: 10         Under Contract: 483

Condos:             Actives: 1570 (Up 42 from last week)           Expired: 17         Under Contract: 409

Arlington County

Single Family:     Actives: 534 (Up 11 from last week)             Expired: 3          Under Contract: 151

Condos:             Actives: 544 (Up 7 from last week)               Expired: 3          Under Contract: 178

Prince Georges County

Single Family:     Actives: 6986 (Up 95 from last week)            Expired: 94       Under Contract: 723

Condos:             Actives:  873  (Up 32 from last week)            Expired: 10       Under Contract: 112

Montgomery County

Single Family:     Actives: 5064 (Up 83 from last week)            Expired: 33       Under Contract: 1169

Condos:             Actives: 1456 (Up 33 from last week)            Expired: 8         Under Contract: 359

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.