Weekly Market Update – Sales Up! Inventory Down!

         

“For the week ending August 1 there were 2,892 signed purchase agreements, an increase of 27.6 percent from the same week last year.

Over the last three months there have been 25.8 percent more pending sales than there were a year ago during the same time period.

For the most recent reporting week there were 3,890 new listings, down 14.8 percent from the same week last year.

Over the last three months there have been 14.5 percent fewer new listings than there were last year, which is combining with the relatively steady sales to bring inventory down.

(Report above is from the MRIS Weekly Market Activity Report Dated August 10, 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.

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