Washington / Baltimore Area August 2006 Numbers

The new monthly numbers for August 2006 are out from the MRIS the multiple listing service for the area. YoY = Year over Year, that is the comparison between August 2006 and August 2005. These numbers include all housing units ( not just single family residences but also condos and co-ops).

Northern Virginia (Fairfax County, Fairfax City, Arlington County, Alexandria City, & Falls Church City, VA (NVAR))

• Median Sales Price YoY: - 8.06%
• Average Sales Price YoY: -3.44%
• Total Units Sold YoY: - 34.8 %
• Average Days on Market YoY: 219%
• Active Listings YoY: 126%

Baltimore City Area (Anne Arundel, Baltimore City/County, Carroll, Harford, Howard (BALT AREA) )

• Median Sales Price YoY: 4.96%
• Average Sales Price YoY: 4.54%
• Total Units Sold YoY: - 25.41%
• Average Days on Market YoY: 65%
• Active Listings YoY: 103%

Washington, DC (just the District of Columbia, no suburbs)

• Median Sales Price YoY: - 8.70%
• Average Sales Price YoY: -5.20%
• Total Units Sold YoY: - 34.39%
• Average Days on Market YoY: 103%
• Active Listings YoY: 139%

Prince George's County, MD

• Median Sales Price YoY: 8.73 %
• Average Sales Price YoY: 6.94%
• Total Units Sold YoY: - 19.72%
• Average Days on Market YoY: 86%
• Active Listings YoY: 142%

Montgomery County, MD

• Median Sales Price YoY: 2.51%
• Average Sales Price YoY: 1.52%
• Total Units Sold YoY: - 26.60 %
• Average Days on Market YoY: 159%
• Active Listings YoY: 121%

Loudoun County, VA

• Median Sales Price YoY: - 3.87%
• Average Sales Price YoY: - 14.22%
• Total Units Sold YoY: - 47.36%
• Average Days on Market YoY: 232%
• Active Listings YoY: 95%

For more numbers on jurisdictions not mentioned here please go to MRIS Market Statistics. The housing market in the Washington, DC area is experiencing a significant decline. The above numbers are nominal dollars, looking at real dollars (inflation adjusted) the dollar declines are even greater. The real estate agents must be hurting now as the total dollar sales volume for Northern Virginia is down 37 compared to August 2005. The market will continue to decline as we head into the fall and winter months. The spring / summer boom, which many in the housing industrial complex had hoped for, failed to materialize. In the Washington, DC area a declining housing market is reality.