Posted on January 10, 2012 by Corey Hart
Jan

10

2012

Foreclosed Inventory & Sales Down Sharply to Close 2011

Rockville, MD – (January 10, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the December 2011 RBI Pending Home Sales Index™ released today.

 

 

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OVERVIEW

The number of contracts signed in the Washington, D.C. Metro Area for the month of December outpaced the five-year December average pace by 22.1%.  The 3,169 closed sales represented an 8.3% month-over-month increase from November, consistent with seasonal patterns. Inventory levels continue to shrink compared to years past, with 10,684 active listings to end the year representing the lowest level since August 2005.  Foreclosed inventory is down sharply year-over-year as 58.5% fewer foreclosed properties were newly listed compared to December 2010.

 

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Posted on December 12, 2011 by Corey Hart
Dec

12

2011

As we touched on in the November DC market analysis, there has been a significant drop-off in market activity for foreclosed properties. The top four graphics highlight this decline, but you'll also notice an uptick in short sales during the same time period. The last two graphs illustrate how these shifts can impact median sales price trends.  Note that the median sales price for "standard" sales (those not involving a short sale or foreclosure) is up 3.4% compared to November 2009 while the median sales price for bank-mediated inventory is down significantly over the same period: 23% decline for foreclosures, 20% decline for short sales.

 

 

Posted on December 12, 2011 by Corey Hart
Dec

12

2011

Highest November Contract Activity in 5 Years, Inventories Continue to Shrink

Rockville, MD (December 12, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the November 2011 RBI Pending Home Sales Index™ released today.

 

View PDF version of this release

OVERVIEW

The number of contracts signed in the Washington, D.C. metro area for the month of November outpaced the 5-year November average pace by 23.3%.  While month-over-month sales usually decline at this time of year in this market, with a 10 year average drop of 6.2% , there was actually a 3.9% month-over-month increase in closed sales this November. Median sales price also showed an improvement over seasonal patterns,  increasing 4.7% from October to $335,000, whereas the 10 year average change is a nominal 0.3% increase month-over-month. While the median sales price showed some resilience, due in part to a 13.6% decline in foreclosed sales from October, it slipped 3.0% year-over-year from November 2010.

 

Posted on November 10, 2011 by Corey Hart
Nov

10

2011

Pending Sales Up from Last Year, but Median Sales Price Dips

Rockville, MD (November 10, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the October 2011 RBI Pending Home Sales Index™ released today.

 

View PDF version of this press release

 

OVERVIEW

October 2011 contract activity in the Washington, D.C. metro area outpaced seasonal patterns, attaining a level that was 18.6% higher than the 5-year October average. There were 4,125 new contracts written in October 2011, 10.4% ahead of the September 2011 total of 3,829. For the past 10 years, new contract activity has averaged a 4.3% increase from September to October.

 

The median sale price of $320,025 was 5.9% lower than October 2010. This, combined with the marked 23.3% month-over-month decrease in new listings, can partially be attributed to the lower jumbo mortgage limits which took effect October 1. There is evidence that the lowered jumbo mortgage limits may have kept potential high-end sellers out of the market and decreased the number of buyers willing or able to go after the higher priced home segment. New listings were down over 13.2% compared to October 2010 and down 20.3% from the 5-year October average. The attached home segment (townhouses, condos and coops) saw only a slight dip of 1.7% in median sales price year-over-year, with a $285,000 level in October 2011. This is consistent with the fact that the majority of jumbo mortgages are associated with detached properties.

 

 

Posted on October 10, 2011 by Corey Hart
Oct

10

2011

Pending Sales Activity Follows Expected Seasonal Trends

Rockville, MD (October 10, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the September 2011 RBI Pending Home Sales Index™ released today.

 

View PDF version of this press release

OVERVIEW

Home sales in the Washington, D.C. metro area headed into the slower fall market losing some momentum as expected following the end of Washington’s seasonal summer peaks. There were 3,829 new contacts written in September 2011 beating September 2010 by 12.4% and 11.7% ahead of the five year September average. The total September contracts were 8.2% less than the 4,169 contracts signed in August 2011, consistent with the decrease in seasonal activity.  At $338,000, the median sales price for September 2011 showed some resilience as it was the highest September level since 2008.

 

 

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