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Washington DC Real Estate Market Report July 2008

Despite total home sold dollar volume down 29.82% from a year ago,people are still buying homes in Washington DC. 506 houses for sale in Washington DC were sold compared to 550 last month. Out of the total 506 of the houses for sale in Washington DC that sold in July 2008,221 of them were on the market from 1-30 days. That shows that if you price your home right based on recent solds and market activity,you have a very good chance of finding a buyer who is going to buy your house.

There are also 3363 houses for sale in Washington DC. This amount of inventory creates a lot of buying opportunity for buyers who are talking about buying a house or have already started the home buying process.

Washington D.C.
From: 07/01/2008 to 07/31/2008 Statistics generated on: 08/15/2008

	Residential Unit Sales Number of Bedrooms				Active Listings		Time on Market
Price Class	2 Or Less	3	4 or More	Condo Coop and Ground Rent	Residential	Condo Coop and Ground Rent	of Units Sold (No. of Units)
Under $30,000	0	0	0	0	2	3	1 -30 Days	221
$30,000-$39,000	0	0	0	4	1	6	31-60 Days	88
$40,000-$49,999	0	0	0	0	2	5	61 - 90 Days	72
$50,000-$59,999	0	0	0	1	0	3	91-120 Days	37
$60,000-$69,999	0	0	0	0	0	4	Over 120 Days	88
$70,000-$79,999	0	0	0	0	2	2	Total	506
$80,000-$89,999	0	0	0	1	4	3
$90,000-$99,999	0	0	0	0	6	3	Type of Financing of Units Sold (No. of Units)
$100,000-$119,999	0	0	0	1	8	17	Type of Financing of Units Sold (No. of Units)
$120,000-$139,999	0	1	0	0	16	28	Conventional	316
$140,000-$159,999	0	3	0	1	26	52	FHA	84
$160,000-$179,999	1	0	0	2	29	80	VA	1
$180,000-$199,999	1	1	1	5	64	92	Assumption	41
$200,000-$249,999	7	11	1	33	142	195	Cash	52
$250,000-$299,999	3	20	3	30	228	180	Owner Finance	0
$300,000-$399,999	10	26	14	57	424	301	All Other	12
$400,000-$499,999	4	12	4	52	244	225	Unreported	0
Over $500,000	19	54	71	52	593	373	Total	506
Totals	45	128	94	239	1791	1572
Grand Totals	506				3363

	2008	2007	% Change
Total Sold Dollar Volume:	$ 293,540,305	$ 418,243,222	- 29.82 %
Average Sold Price:	$ 580,119	$ 565,194	2.64 %
Median Sold Price:	$ 422,180	$ 431,000	- 2.05 %
Total Units Sold:	506	740	- 31.62 %
Average Days on Market:	74	60	23.33 %
Average List Price for Solds:	$ 624,805	$ 586,386	6.55 %
Avg Sale Price as a percentage of Avg List Price:	92.85 %	96.39 %

Total Number of NEW listings
taken for the month:	986
Total Number of Properties
marked Contract for the month:	395
Total Number of Properties
marked Contingent for the month:	169
Total Number of NEW pendings
(CONTRACTS + CONTINGENTS):	564

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data

To receive your free list of "Houses for sale in Washington DC",please give register on one of my websites Houses for sale in Washington,DC.I can be reached at (202) 378-0283 (Direct) or (301) 560-6700 x1154 (Office). And I can also be reached online on my other websites Lanre Folayan "Buy Washington DC Real Estate" (EXIT PREMIER REALTY ... and Washington DC,Maryland and Virginia Houses for Sale and Thank you very much. Looking forward to working with you and helping you make your home purchase or sale a stress free and very happy one. Have a great day. Lanre Folayan - Real Estate Professional with Exit Premier Realty. "Buy a home in Washington DC"

Posted by Lanre Folayan -Petworth DC on 08/15/2008 10:09 PM

Comments (3)

Washington DC Real Estate Market Report July 2008 in the Regional (Localism) Channel

washington dc real estate market report july 2008

Originally posted at: DC Real Estate and Area Events: Washington DC Real Estate Market Report July 2008

This post has been included in District of Columbia Information District of Columbia County, DC Information Washington, DC Information
Post is included in group: Exit Peeps
Post is included in group: Market Reports
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Post is included in group: Realtors®
Post is included in group: Washington, DC Mortgage and Real Estate Issues

3 Comments on Washington DC Real Estate Market Report July 2008

AUG

You're becoming quite the master of Market Studies, Lanre. Great way to set yourself apart from other real estate agents in the city.

You have definitely given someone the info they need. I would truly consider you the SME (Subject Matter Expert).

Margaret -Thank you Margaret. I really appreciate that. But to be honest with you,you are one definitely one of the great ones who I am learning from. One day I hope to be almost as great as you are. Thanks for your comments. Have a great weekend.

Latonia-Thank you. Thank you very much. Have a great weekend.

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