April 2007 Washington - Baltimore MRIS Numbers

The new monthly numbers for April 2007 are out from the MRIS (Metropolitan Regional Information Systems) the multiple listing service for the area. YoY = Year over Year, that is the comparison between April 2007 and April 2006. These numbers include all housing units ( not just single family residences but also condos and co-ops).

The housing market in the Washington and Baltimore area had already started declining in fall 2005. Thus the year over year comparisons only represent a portion of the declining housing market.

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

• Median Price: $470K
• Median Sales Price YoY: -1.2%
• Average Sales Price YoY: -2.5%
• Total Units Sold YoY: -12%
• Average Days on Market YoY: 52%
• Active Listings YoY: -8.7%

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

• Median Price: $275k
• Median Sales Price YoY: 2.6%
• Average Sales Price YoY: 1.9%
• Total Units Sold YoY: -11%
• Average Days on Market YoY: 64%
• Active Listings YoY: 33%

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

• Median Price: $419k
• Median Sales Price YoY: -1.4%
• Average Sales Price YoY: 2.7%
• Total Units Sold YoY: -0.9%
• Average Days on Market YoY: 38%
• Active Listings YoY: -1%
  

Prince George's County, MD

• Median Price: $325K
• Median Sales Price YoY: 0%
• Average Sales Price YoY: 0%
• Total Units Sold YoY: -36%
• Average Days on Market YoY: 108%
• Active Listings YoY: 87%
  

Montgomery County, MD

• Median Price: $450K
• Median Sales Price YoY: 3.4%
• Average Sales Price YoY: 4.3%
• Total Units Sold YoY: -22%
• Average Days on Market YoY: 69%
• Active Listings YoY: 17%
  

Loudoun County, VA

• Median Price: $432K
• Median Sales Price YoY: -8.1%
• Average Sales Price YoY:-6.4%
• Total Units Sold YoY: 0%
• Average Days on Market YoY: 58%
• Active Listings YoY: -23%

Arlington County, VA

• Median Price: $485K
• Median Sales Price YoY: -7.6%
• Average Sales Price YoY:-0.1%
• Total Units Sold YoY: 17%
• Average Days on Market YoY: 52%
• Active Listings YoY: -16%

Frederick County, MD

• Median Price: $310K
• Median Sales Price YoY: -2.9%
• Average Sales Price YoY: 8.9%
• Total Units Sold YoY: - 27%
• Average Days on Market YoY: 102%
• Active Listings YoY: 21%

Fairfax County, VA

• Median Price: $474K
• Median Sales Price YoY: -1.2%
• Average Sales Price YoY:-3.8%
• Total Units Sold YoY: -19%
• Average Days on Market YoY: 53%
• Active Listings YoY: -8%

For more numbers on jurisdictions not mentioned here please go to MRIS Market Statistics.

These numbers clearly showing a declining housing market in the Washington - Baltimore area. 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 declines are even greater.

The Washington - Baltimore area is not having a spring bounce that will save the housing market from further declines in 2007. In the metropolitan area a declining housing market is reality.