David Rathgeber's
Market Report
This month's market index decreased seasonally to 2.3 months supply from 2.8 last month. A year ago, the index stood at 3.1. Northern Virginia leads with 1.9 months supply; Loudoun County at 2.2; Montgomery County at 2.6; and Washington DC unchanged at 3.1. As usual, townhomes lead in popularity with condos in second place.
Buyers were getting an average concession of 3.5% off asking prices, and days on the market decreased a bit. Our market is off to a very strong start due to the mild weather and perhaps some pent-up demand. By April, home sellers are expected to have a distinct advantage. Click these links to see this month's tips for home sellers and home buyers. Notes
(1) Market Index (Months Supply of Resale Homes): Below 1.5 is a hot sellers' market; 1.5 to 4.0 is a (normal) sellers' market; 4.0 to 6.0 is a neutral market; above 6.0 is a buyers' market. (2) Northern Virginia: Alexandria, Arlington County, and Fairfax County. (3) Pricing data above are the very latest, but they are inherently 2 months old due to data collection limitations. Media reports are generally another 2 months old. The report above is prepared monthly from David's independent research for his clients. Click this link: to learn how this report is prepared. Contact David for current data on your market segment. *** Copyright © David Rathgeber 2012 All rights reserved. *** |