The monthly real estate sales figures for August from the MRIS are out.
Median sales prices continue to be down in most jurisdictions in the Baltimore - Washington, metro area. Median sales price continue to be down dramatically in the outer suburbs compared to last August. For example down 24% in Loudoun County. Lower prices in the outer suburbs have increased sales as the number of sales increased 28% in Loudoun County (compared to last year).
In Montgomery County, the median sales price for detached single family houses is down 13% from last year. The median sale price stands at 472,000.
Also the MRIS now has an official blog.
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zip 20009
ReplyDelete2008 2007 % Change
Total Sold Dollar Volume: $ 34,337,730 $ 49,010,715 - 29.94 %
Average Sold Price: $ 520,269 $ 475,832 9.34 %
Median Sold Price: $ 467,000 $ 430,000 8.60 %
Total Units Sold: 66 103 - 35.92 %
Average Days on Market: 53 40 32.50 %
Average List Price for Solds: $ 538,825 $ 492,386 9.43 %
Lance,
ReplyDeleteYour sample size is too small (zipcode 20009) especially considering the 35% decline in number of sales in your zip compared to August 2007.
"David said...
ReplyDeleteLance,
Your sample size is too small (zipcode 20009) especially considering the 35% decline in number of sales in your zip compared to August 2007."
Agreed, but check this out...Want a bigger sample, try median prices in the whole district since Jan 2008
J +11.2
F +6.4
M -8.1
A +4.5
M +5.0
J +2.4
J -2.1
A +0.0
Damn place just might be "immune" after all
we know, we know - RE always go up
ReplyDeleteHey - Im just sayin...Given the catastrophe out in the exurbs, I never thought I would see this!
ReplyDeleteSee what?
ReplyDeleteNo condos selling thus creating a mythical stabilization?
uh-huh.....
"Anonymous said...
ReplyDeleteSee what?
No condos selling thus creating a mythical stabilization?
uh-huh....."
You know, thats not a bad thought, but I just checked it out - thats not it. When you break them out and just compare condo prices YOY they are up. When you just compare SFH prices YOY, they are up too.
http://www.gcaar.com/statistics/default.htm
Not a bad thought though (Im serious)...Anyone else have any ideas?
The more expensive housing units are selling in DC. The cheaper ones are not. The mix has changed.
ReplyDelete"The more expensive housing units are selling in DC. The cheaper ones are not. The mix has changed."
ReplyDeleteOK sounds good in theory - just like the idea that "less condos are selling creating mythical stabalization" did until it was debunked. Proof? And why just in DC - Why not elsewhere?
500K for a little shack built for military families back in the 50s? Every single one of those homes have no style or class, complete tear downs.
ReplyDeleteWhat a joke.
I'm no bubble head, but I will just keep paying my $1100 a month (utilities included) rent.
Just because no one cares enough about the sorry-ass data in your posts to respond doesn't equate to "debunked."
ReplyDeleteJust because no one cares enough about the sorry-ass data in your posts to respond doesn't equate to "debunked."
ReplyDeleteWasnt this entire posting and thread devoted to the data? why no interest in the "sorry-ass data" as soon as it doesnt show something people dont like to see?
"why no interest in the "sorry-ass data" as soon as it doesnt show something people dont like to see?"
ReplyDeleteIts called denial and its not just something that infects sellers...