Local Market Report
(there is no national real estate market)
The market index increased seasonally to 1.7 months supply from last month's 1.5. Loudoun County retains the lead with 1.5 months supply; then Washington DC at 1.6; Northern Virginia with 1.7; and Montgomery County at 1.9. August will be slightly better for buyers, and September should be their best month of 2018. Our market is stronger than it has been for 5 years, with inventory 13% lower and sales 11% higher year-to-date compared with 2017. The Northern Virginia average home price has exceeded $600,000 for the first time ever.
* * *
The report above is prepared monthly from David's independent research for his clients. It does not contain important data for macro-economists, is not tailored for a TV audience, includes no national data, and is not prepared by the computer weenies at the MLS. Click this link to learn how this report is prepared and why it is the best available anywhere!
1. The market index represents the months supply of resale homes and measures the ratio of home buyers to home sellers. Below 1.5 is a hot sellers' market; 1.5 to 3.0 is a normal sellers' market; 3.0 to 5.0 is a neutral market; above 5.0 is a buyers' market.
2. Northern Virginia: Alexandria, Arlington County, and Fairfax County (including Fairfax City and Falls Church City).
3. Results are not seasonally adjusted.
* * * * * * *
Your Friend in Real Estate, LLC
Arlington, Virginia, USA
* Copyright © David Rathgeber *
* * All rights reserved. * *
* * * 2018 * * *