The song remains the same as 2009 marches on: heavy sales, weak new listings, dwindling inventory of available homes.
- For the week ending July 18 there were 2,736 signed purchase agreements, up 25.7 percent over the same week last year.
- Over the last three months there have been almost 7,000 more pending sales than there were during the same period in 2008.
- Sales are the heaviest in the lower price ranges but remain lethargic in the upper brackets.
- The number of homes currently available is a full 30.5 percent behind this time last yeara drop of more than 16,000. Prospective buyers who believe they can wait for more inventory to appear may regret it.
(Report above is from MRIS’ Weekly Market Activity Report Dated July 27, 2009)
Note: Whether we are in a Buyers Market or Sellers Market can vary wildly from town-to-town, neighborhood-to-neighborhood, and price range-to-price range. If you’d like more detailed information about your neighborhood – what homes are selling for, what the inventory is, what your home may be worth, etc – just give us a call at (703) 242-3975.
Northern Virginia Real Estate Blog 