Local Market Report
(there is no national real estate market)
The months supply of homes on the market is 1.5, down from last month's 1.6 as expected. Northern Virginia and Loudoun County lead at 1.3; followed by Montgomery County at 1.6; and Washington DC at 1.8. All jurisdictions are in sellers' market territory. There are now 25 homes for sale in ZIP code 22202, a big jump from last month’s 10.
Homes that are priced to sell in Northern Virginia are moving briskly, with condos and townhomes leading detached homes. The months supply and time on the market of detached homes, are almost double that of townhomes and condos. The average discount off final asking price, is greater than 2.5% versus townhomes and condos for which it is well under 1%.
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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.
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Your Friend in Real Estate, LLC
Arlington, Virginia, USA
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