Happy New Year! Let’s get nerdy. Inventory has not risen during the economic slowdown. Months of inventory are coming up (Moco from 0.5 on 1/1/22 to 1.46 1/1/23 and DC to 3 months for single family and 4.5 months for condos), but we are still seeing a strong market. We are still in a seller’s… Continue reading Jan 1, 2023 Housing Inventory
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Category: Market Trends
How’s the Market? Dec 2022
Welcome back to the monthly series, How’s the Market? 2022 is officially over and I think we are all ready for a fresh start. Let’s start by looking at the key market stats for the DC area. Inventory The pace of sales is good – Montgomery County, PG, Fairfax, Loudon, Alexandria City are all under… Continue reading How’s the Market? Dec 2022
How’s the Market? Nov 2022
Welcome back to my monthly blog “How’s the Market?” This is our Nov 2022 blog post which uses Oct 2022 data. First let’s start with a look at where we are compared to where we were in 2019, 2020, and 2021. Inventory One of the top items that we are all watching — Inventory. DC… Continue reading How’s the Market? Nov 2022
This time is different?
Let’s go back in time. In 2008, people were worried about losing their home in a foreclosure. A lot of homes hit the market, but there were not enough people to purchase them, and prices fell. 2008 is different. The housing bubble was a big factor in the actual recession itself. That is not the… Continue reading This time is different?
How’s the market? Oct 2022
How’s the Market? Welcome back to my monthly series “How’s the market?” where we talk about the current state of the market in the DC metro area. These are the September 2022 stats. Let’s check in on interest rates In June we were seeing rates around 6%. Since then the Federal fund rate has gone… Continue reading How’s the market? Oct 2022
Hello Fall Market!
Welcome back to this September edition of my “How’s the Market?” series. This data is the Aug 2022 data. The Fall season is officially here! What are we seeing? There is a big cooling from this time last year, but that was a rare market. We are still doing better than Aug 2019. Inventory There… Continue reading Hello Fall Market!
How’s the Market? Is inventory rising? Are prices decreasing?
Welcome back for your July Market Update (Data from June 2022). Market Trends Home sales are slowing. The number of pending contracts is down 21% compared to last year. This is the largest decline since the spring of 2020 (original covid slowdown). Inventory is increasing in some submarkets, but still decreasing in other markets. This… Continue reading How’s the Market? Is inventory rising? Are prices decreasing?
Midway through 2022 – How’s the Market, June 2022
Mid-way through 2022 – How’s the Market? June 2022 An quick overview In the last year in Washington DC, inventory has increased by 7%, the median list price is up 9%, the median sold price is down 6%, and the sold volume is down 9%. In Montgomery County, inventory is down 9%, median list price… Continue reading Midway through 2022 – How’s the Market, June 2022
Might I Mention the Maryland Market? May 2022
Maryland folks, this post is for you. And I hope you appreciated the alliteration in my title. Prices and Inventory The average sales price is up again. It is $484,283, up 11.4% ($434,847 in 2021). The median sales price is also up, $405,000, up 9.5% ($370,000 in 2021). In addition to these higher prices, inventory… Continue reading Might I Mention the Maryland Market? May 2022
How’s the market?
Looking back at April 2022 data and results. Here are some quick snap shots: DemandThe Bright MLS T3 Home Demand Index rose to 126 (Moderate demand) since last month. Demand rose for all types of homes, except lower-priced single-family, with the greatest increase in buyer interest in higher-price single-family homes. Inventory conditions changed little over… Continue reading How’s the market?