Washington, DC : Market Update 5/12/2008

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

Here is the breakdown as of May 12th, 2008

Many of the "expired" listings from two weeks ago; returned to the market place last week.  However in DC and Arlington; homes inventories are remaining fairly steady.

In most of these areas; the number of homes Under Contract, is the highest since late summer of '07.  Good news; especially since it is only mid-month; (and most homes sell in the last 2 weeks of the month).

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; 4 LESS on market from last week, but 21 "expired" - in reality 17 new listings came on the market.

Washington DC

Single Family:     Actives: 1957 (Down 4 from last week)           Expired: 21         Under Contract: 532

Condos:             Actives: 1566 (Up 22 from last week)             Expired: 12         Under Contract: 478

Arlington County

Single Family:     Actives: 541 (Up 12 from last week)               Expired: 3          Under Contract: 157

Condos:             Actives: 538 (Down 6 from last week)             Expired: 0          Under Contract: 178

Prince Georges County

Single Family:     Actives: 7002 (Up 69 from last week)             Expired: 74         Under Contract: 813

Condos:             Actives:  848  (Down 7 from last week)           Expired: 15         Under Contract: 113

Montgomery County

Single Family:     Actives: 5164 (Up 29 from last week)             Expired: 40         Under Contract: 1268

Condos:             Actives: 1487 (Up 24 from last week)             Expired: 11         Under Contract: 363

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.