Posted on September 22, 2011 by Corey Hart
Sep

22

2011

We came across the following article on Yahoo! Real Estate: U.S. Cities Where Homes Sell the Fastest

Among the Top 5, our very own Woodbridge, VA (Tied for #5) Alexandria, VA (#4).  So that's all well and good. But it's also a bit confusing.The article relies on Zillow's analysis of the median DOM for homes sold between mid-April and mid-July. It reports that Alexandria's Median DOM for this period was 74 days. However, when looking at the stats - from the MLS - on RBI, it shows an even faster median time to sell than that reported in the Zillow analysis!:

 

market analysis
Posted on September 21, 2011 by Corey Hart
Sep

21

2011

NAR released its August Existing-Home Sales report this morning and we thought we'd call attention to one line in particular to highlight why local stats are important for every real estate professional to understand:

"Distressed homes – foreclosures and short sales typically sold at deep discounts – accounted for 31 percent of sales in August, compared with 29 percent in July and 34 percent in August 2010."

We thought we'd take a look at the makeup of the DC Metro market to see how it stacks up against these national numbers. Not surprising to see less distressed homes as a percentage of all (we refer to them as "bank-mediated") given the relative strength of the DC metro economy, but it is worth highlighting the difference:


market analysis
Posted on September 12, 2011 by Corey Hart
Sep

12

2011

Pending Sales Activity During Month Showed Seasonal Trends

 

Rockville, MD (September 12, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by housing market expert Jonathan Miller of Miller Samuel, based on the August 2011 RBI Pending Home Sales Index™ released today:

View PDF version of this press release

 

OVERVIEW

The summer home sales season in the Washington, D.C. metro area market finished with the highest number of signed contracts for August in four years.   There were 4,169 contracts signed in August 2011, 8.6% less than the 4,563 contracts signed in July, but consistent with seasonal trends.  New pending sales were 19.9% above the August 2010 level but that increase is exaggerated due to the dearth of activity in the months following the expiration of the federal homebuyers tax credit in April 2010.   The median sales price for August 2011 showed a similar seasonal pattern, declining 3.8% to $356,000 from $370,000 in July 2011 but was essentially unchanged from August 2010. 

 

Posted on September 12, 2011 by Corey Hart
Sep

12

2011

Median Sales Price Also Outperformed Seasonal Expectations

 

Rockville, MD – (September 12, 2011) – The following analysis of the Baltimore Metro Area housing market has been prepared by housing market expert Jonathan Miller of Miller Samuel, based on the August 2011 RBI Pending Home Sales Index™ released today:

 

View PDF version of this release

OVERVIEW

Baltimore area home sales enjoyed their best August in five years as buyers took advantage of affordable prices and record low interest rates.

While August  pending sales  of 2,365 was 1.7% below the July 2011 total of 2,407, the current decline was well below the 6.9% average month-over-month decline of the past 5 years and the 4% average month-over-month decline of the past ten years. 

Median sales price also outpaced seasonal patterns, rising 4.4% to $235,000 in August from $225,000 in the July .  For the past ten years, median sales price has slipped an average of 0.5% from July to August.

 

Posted on September 07, 2011 by Corey Hart
Sep

07

2011

Though a core part of our mission here at RBI is to provide stats and trends as they pertain to the local real estate market, we are mindful to keep an eye on what is happening at the national level as well. We've recently begun frequenting the Economists' Outlook, the National Association of Realtors® blog containing timely and comprehensive analysis of national market trends. A recent post by George Ratiu contained some interesting insights about first time home-buyer trends.


While the investment property buyer makes up nearly 20% of the general homebuyer group, 4.1% of first-time homebuyers in July purchased a home for investment. Ratiu attributes this in part to the historically low interest rates and high affordability. This number is line with the average for the year of 4.2%, but it is up from the 3.6% figure for July of 2010. Click here to see the entire post on NAR's site.

 

market analysis

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