Washington DC Real Estate Market Report July 2008

By
Real Estate Agent with Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC SP98364271

 

                                         

 

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

$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"

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Ambassador
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Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

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

Aug 15, 2008 03:13 PM #1
Rainer
80,366
Latonia Parks
Top Bragg Realty, Fayetteville NC, Home of the 82d ABN DIV - Fayetteville, NC
Certified Military Relocation Expert

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

Aug 15, 2008 03:23 PM #2
Rainmaker
795,229
Lanre-"THE REAL ESTATE FARMER" Folayan
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

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.

Aug 15, 2008 03:44 PM #3
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Rainmaker
795,229

Lanre-"THE REAL ESTATE FARMER" Folayan

I don't make promises.I deliver results.SOLD HOMES
Are you in the market to buy or sell your house? Call me now.
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