Foreclosed Inventory & Sales Down Sharply to Close 2011

Rockville, MD – (January 10, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the December 2011 RBI Pending Home Sales Index™ released today.

View PDF version of this release

OVERVIEW

The number of contracts signed in the Washington, D.C. Metro Area for the month of December outpaced the five-year December average pace by 22.1%.  The 3,169 closed sales represented an 8.3% month-over-month increase from November, consistent with seasonal patterns. Inventory levels continue to shrink compared to years past, with 10,684 active listings to end the year representing the lowest level since August 2005.  Foreclosed inventory is down sharply year-over-year as 58.5% fewer foreclosed properties were newly listed compared to December 2010.

Highest November Contract Activity in 5 Years, Inventories Continue to Shrink

Rockville, MD –(December 12, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the November 2011 RBI Pending Home Sales Index™ released today.

View PDF version of this release

OVERVIEW

The number of contracts signed in the Washington, D.C. metro area for the month of November outpaced the 5-year November average pace by 23.3%.  While month-over-month sales usually decline at this time of year in this market, with a 10 year average drop of 6.2% , there was actually a 3.9% month-over-month increase in closed sales this November. Median sales price also showed an improvement over seasonal patterns,  increasing 4.7% from October to $335,000, whereas the 10 year average change is a nominal 0.3% increase month-over-month. While the median sales price showed some resilience, due in part to a 13.6% decline in foreclosed sales from October, it slipped 3.0% year-over-year from November 2010.