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Washington, DC : Market Update 9/29/08

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

Here is the breakdown as of September 29th, 2008

This week inventory levels are up slightly; which is normal during the Fall "Selling Season".

Montgomery County and Arlington County; continue to have inventory levels close to last year.

Washington DC, is seeing a spike in the number of Single Family Homes on the market. Due mostly to slower home sales in NE and SE Washington DC (NW DC is under its 2 yr high in inventory by 7%, while DC as a whole is over its 2 yr high by 2%).

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: 2027 (Up 2 from last week) Expired: 32 Under Contract: 508 (Up 23 from last week)

Condos: Actives: 1360 (Down 15 from last week) Expired: 13 Under Contract: 368 (Down 18 from last week)

Arlington County

Single Family: Actives: 514 (Up 20 from last week) Expired: 6 Under Contract: 153 (Down 8 from last week)

Condos: Actives: 557 (Up 24 from last week) Expired: 4 Under Contract: 113 (Down 5 from last week)

Prince Georges County

Single Family: Actives: 7318 (Up 26 from last week) Expired: 95 Under Contract: 988 (Down 40 from last week)

Condos: Actives: 836 (Up 6 from last week) Expired: 7 Under Contract: 99 (Down 14 from last week)

Montgomery County

Single Family: Actives: 4922 (Down 46 from last week) Expired: 42 Under Contract: 1171 (Down 21 from last week)

Condos: Actives: 1419 (Down 4 from last week) Expired: 5 Under Contract: 310 (Down 12 from last week)

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.