Market in a Minute & StatPak
May 2013
We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC and Montgomery County.
A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.
Northern Virginia - May 2013
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CONTRACTS: Contract activity in April 2013 was up 12.1% from April of last year, and was up in every price category above $300,000. Through the first four months of 2013, total activity is up 1.8%. Of those properties going under contract in April, 82% were on the market for 30 days or less. For some perspective, 95% of homes going under contract at the peak of the market in April 2004 were on the market for 30 days or less; in 2008, it was just 44%.
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Montgomery County - May 2013
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CONTRACTS: Contract activity in April 2013 was up 13.1% from April of last year, and was up in every price category. Through the first four months of 2013, total activity is up 3.2%. Of those properties going under contract in April, 75% were on the market for 30 days or less. For some perspective, 86% of homes going under contract at the peak of the market in April 2004 were on the market for 30 days or less; in 2008, it was just 32%.
View the complete Montgomery County May 2013 StatPak Report including Market in a Minute
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Washington D.C. - May 2013
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CONTRACTS: Contract activity in April 2013 was up 13% from April of last year, and was up in every price category above $300,000 (under $300K was unchanged). Through the first four months of 2013, total activity is up 7%. Of those properties going under contract in April, 73% were on the market for 30 days or less. For some perspective, 79% of homes going under contract at the peak of the market in April 2004 were on the market for 30 days or less; in 2008, it was just 44%.
View the complete Washington D.C. May 2013 StatPak Report including Market in a Minute
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Loudoun County - May 2013
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CONTRACTS: Contract activity in April 2013 was up 17.4% from April of last year, and was up in every price category above $300,000. Through the first four months of 2013, total activity is up 4.9%. Of those properties going under contract in March, 76% were on the market for 30 days or less. For some perspective, 92% of homes going under contract at the peak of the market in April 2004 were on the market for 30 days or less; in 2008, it was just 36%.
View the complete Loudoun County May 2013 StatPak Report including Market in a Minute
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