WASHINGTON (AP) - Things have really changed for the Washington area's housing market.In Loudoun County, where homes were the median home price last year was $535,000, it now takes an average of 78 days to sell a home there. That's more than six weeks longer than it took last year.
Homes closer to Washington in Virginia and in Montgomery County (website - news) are staying on the market for an average of two months before they sell, while homes in Prince George's County last for an average of 38 days.
According to the real estate listing service Metropolitan Regional Information Systems, there were nearly 27,000 houses for sale in the Washington area at the end of February, up from about 9,400 a year earlier.
Real estate experts say homes are now more likely to sell faster if sellers are more willing to negotiate. Some have been lowering the asking price, offering to pay closing costs or being more flexible about move-in dates. [ABC 7 News, March 27, 2006]
Monday, March 27, 2006
Houses Sitting in Washington, DC Area
Posted by David at 3:48 PM