Posted on November 11, 2013 by Corey Hart
Nov

11

2013

Increase in active listings for all property segments

OVERVIEW

Demand in the Baltimore Metro Region remained steady in October, with sales and pending contracts increasing 15.2 percent and 2.6 percent, respectively, from last October.  Total inventory increased from the prior year for the first time in over two years, with increases in all property segments.  Despite the rise, total inventory is still at historic lows and is only 58.6 percent of its 2008 peak level.  New listings increased 26.5 percent from last October and contributed to the increase in total inventory.  The median sale price increased by 3.6 percent from this time last year and was the 21st consecutive increase for this indicator.  Townhomes led the growth in closed sales, while condo properties led the growth in median sale price.

Posted on October 10, 2013 by Corey Hart
Oct

10

2013

Double-digit growth for new listings for the sixth straight month

OVERVIEW

Activity in the Washington DC Metro Region continues to be steady and strong as we enter fall.  Sales increased in September as compared to this time last year.  Pending contracts also increased, but at a slower rate than earlier this year.  The increase in pending contracts was driven by condos and detached homes.  Total inventory continues to decline, but as in prior months, the pace of the decline is slowing.  Both townhomes and condos had year-over-year increases in active listings, but were offset by the decline in detached home listings.  Median sales prices reached their highest September-level in six years likely as a result of strong demand and tight supply.  Condo properties led the growth in closed sales while detached homes had the highest increase in median sales price.  Favorable market conditions continue to cause new sellers to enter the market, resulting in a 16.5 percent increase in listings from this time last year.  This is the sixth consecutive double-digit increase for this indicator.  Homes are selling quickly; the median-days-on-market was 17 days in September, which is the lowest September-level since the peak of the housing boom in 2005.  Federal uncertainty may play a stronger role over the coming months as the impact of the Federal Shutdown and debt ceiling are felt.

Click here to view PDF version of this report

Posted on October 10, 2013 by Corey Hart
Oct

10

2013

Decline in active listings mildest in over two years; Double-digit growth for new listings for the sixth straight month

OVERVIEW

Activity in the Baltimore Region continues to be steady and strong as we enter fall.  Sales and pending contracts increased in September as compared to this time last year.  Inventory continues to decline, but as in prior months, the pace of the decline is slowing.  Median sales prices reached their highest September-level in five years, likely as a result of strong demand and tight supply.  Condo and townhome properties led the growth in both closed sales and median prices. There was a 21.9 percent increase in new listings from this time last year.

“Favorable market conditions continue to cause new sellers to enter the market,” said Jonathan Hill, President of RealEstate Business Intelligence. “This is the sixth consecutive month with double-digit percent increases in new listing activity compared to 2012.”  Homes are selling quickly; the median days-on-market was 35 days in September, which is the lowest September-level since the peak of the housing boom in 2005.  Federal uncertainty may play a stronger role over the coming months as the impact of the Federal Shutdown and debt ceiling are felt.

Click here to view PDF version of this report

Posted on October 01, 2013 by Corey Hart
Oct

01

2013

The New York Times editorial concerning the housing recovery has received lots of national attention, and for good reason.  The editorial board raises important questions regarding just how much the recent improvements in the national housing market have resulted from buyers collective fear of looming interest rate hikes.  Hard to say, but this has certainly factored into some of the recent activity both nationally and locally.  It could be one of the main drivers behind the (welcome) increase in new listings over the last 5 months in the DC Metro market, which we elaborate upon in this recent blog post.

Another point made by the NY Times editorial hasn't reared its head in the DC Metro market...at least not yet. 

Similarly, home prices have gone up, rising 12.4 percent from July 2012 to July 2013. But month-to-month price gains have slowed considerably the last several months. This suggests that prices have begun to plateau, even as millions of homeowners who owe more on their mortgages than their homes are worth are counting on rising prices to restore their equity. [emphasis added]

The 10-year average July-to-August month-to-month price change is -2.5% for the DC Metro area.  The 2013 July-to-August percent change: -2.4%. We'll keep an eye on this indicator when the September stats are reported on the 10th, but don't be surprised if there is a month-to-month decrease again: The 10-year average August-to-September median sale price change is -5.2%.

Posted on September 20, 2013 by Corey Hart
Sep

20

2013

What's New?

  • Introducing Market Gauges  We've added nifty gauges that compare the most recent monthly indicators against their 5-Year Average, 5-Year Maximum and 5-Year Minimum for the most recent month. Easily see if nine different indicators are above or below their 5 Year Trends

  • Interactive Charts Update Tooltips, the magic boxes that show up when you mouse over a chart, now include the Year-over-Year change figures. While it might seem like a small change, we think this will be a big hit. No need to do the rough calculation in your head or get out your calculator, just look at the "magic box".

  • Page Redesign The page layout has been enhanced to streamline your experience, and give you quicker access to Interactive Charts, Reports, and a new Explore tab which provides stat comparisons of all locations within the area.

 

Market Gauges

Why are they awesome?
They provide market knowledge in no time (well, in a few seconds). Our customers rave about the custom trends available via our game-changing Interactive Charts. Interactive Charts remain the best research tool every time you are discussing listing-specific market trends with a client or adding custom graphs to your website. But sometimes you just need to answer the general question: "How's the Market?" and don't want to dive too far into the weeds. The Local Market Insight Report and Year-to-Date Detailed Reports are obvious go-to tools, but Market Gauges provide an even faster way to put the most recent trends in perspective.

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