New September MRIS Numbers

The new monthly numbers for September 2006 are out from the MRIS the multiple listing service for the area. YoY = Year over Year, that is the comparison between September 2006 and September 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 Price: $445K
  
• Median Sales Price YoY: -7.29%
• Average Sales Price YoY: -5.71%
• Total Units Sold YoY: -34%
• Average Days on Market YoY: 192%
  
• Active Listings YoY: 67%
  

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

• Median Price: $268k
  
• Median Sales Price YoY: 3.08%
• Average Sales Price YoY: 1.69%
• Total Units Sold YoY: -30%
• Average Days on Market YoY: 63%
  
• Active Listings YoY: 81%
  

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

• Median Price: $455k
  
• Median Sales Price YoY: 8.59%
• Average Sales Price YoY: 10.76%
• Total Units Sold YoY: -15%
• Average Days on Market YoY: 94%
  
• Active Listings YoY: 74%

Please note: The median price in DC was $455K in September 2006 which was a huge jump from August 2006 was $397k or July when it was at $415K. I am not sure what caused such a dramatic increase in the median in DC. If you have a theory please post. Verify it using stats from MRIS.

Prince George's County, MD

• Median Price: $330K
  
• Median Sales Price YoY: 6.45%
• Average Sales Price YoY: 6.47%
• Total Units Sold YoY: -28%
• Average Days on Market YoY: 88%
  
• Active Listings YoY: 113%
  

Montgomery County, MD

• Median Price: $435K
  
• Median Sales Price YoY: 1.4%
• Average Sales Price YoY: 1.52%
• Total Units Sold YoY: -29%
• Average Days on Market YoY: 148%
  
• Active Listings YoY: 77%
  

Loudoun County, VA

• Median Price: $440K
  
• Median Sales Price YoY: -9.28%
• Average Sales Price YoY:-4.79%
• Total Units Sold YoY: -41%
• Average Days on Market YoY: 230%
• Active Listings YoY: 50%
  

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 38 compared to September 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 metropolitan DC area a declining housing market is reality.