For those living in the Washington DC metro area, there has been an almost 5 percent increase in home prices since 2009 on average across the region, while the rest of the country continues to see price declines. The months supply of homes in most close-in counties and DC is hovering between 3.5 to 5 months. Anything below a 6 month supply is historically a Seller’s market.
Prince George’s County Housing Inventory Declining!
The inventory trend of existing fee simple homes in Prince George’s County is declining.
This translates to a 4.8 month inventory supply of homes. The market is gradually normalizing. Tighter inventories always lead to future price increases as demand begins to outpace supply. Historically, a balanced market is a 6 month supply of homes. Anything greater than 6 months is a Buyer’s market. Anything less, is a Seller’s market.
Nationally, the supply of for sale homes is returning now to 2005 levels. See graph from Calculated Risk. While there is still a shadow inventory of foreclosures and short sales, the trend is a diminishing supply of homes and a reduction of inventory. In addition, the supply of new homes is now less than any amount since 1963, when records began to be kept.
First Four Lots have been released! Call Jeff Cohen for more details 240-304-0815
13304 ARYA DR BRANDYWINE, MD 20613
See Sample Payments
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2002 Turley Green Place, Upper Marlboro MD. 20774
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1914 Lake Forest Drive, Upper Marlboro MD. 20774
See Sample Payments
[youtube http://www.youtube.com/watch?v=t34Q8SO_Ky8
Date: Thursday, July 28, 2011, 10:40am EDT
.The trade group’s monthly report on pending sales, or contracts signed but sales not yet closed, rose 2.4 percent from May’s level. Pending sales were up 19.8 percent from June 2010, the low point in pending sales immediately following the expiration of the homebuyer tax credit.
Ole Ole Ole Ole
Ole Ole Ole Ole
FIESTA!
Me mind on fire, me soul on fire
Feelin’ hot hot hot
Sounds like the 1987 release of Buster Poindexter’s version of Hot Hot Hot….and describes todays delightful weather forecast of course.
Do you want to know what else was hot? Yesterday’s Brokers Open starring Kathleen Rollins of Village Settlement, Inc and Laurent Berman of Eagle Bank.
Cars lined the street, brokers and agent talked shop, and an enormous spread of food was served. If you missed this one, pick yourself up and wipe the tears away, because we can promise there will be others. Stay tuned and thank you to all who made this event such a great success!
We recently put out our Value Added Standards Presentation which we are very proud of. This is a great tool for those of you in the new housing market. Many of the products we use standard at Haverford Homes, are hidden behind the walls to protect you and your families largest investment. Let it be known that these items can be stripped completely in order to curtail cost. We strongly advise that you take this with you when your shopping for your next home. Even if you don’t buy with us, you’ll be happy you have it in hand.
In other news, our Facebook Page is growing rapidly with new fans every day. We wanted to thank everyone for their support, likes, and comments.
