Want to know how the real estate market is fairing in your area? Check out these short market video updates for local areas to include MD, VA, WV, DC and PA.
Real Estate Market in Washington DC - January 2012
Overview
- Positive Indicators: GDP is up, corporate earnings are up, unemployment is down
- Pending sales are up 9.3% to 529 over January 2011
- Active listings are down 27.6% to 1,619 from last January (declining inventory brings market into better balance)
- Down to 3.2 months of supply (down 2.2% from October)
- Lowest regional inventory level since January 2006
- Median home prices are stable at $375,000
- January closings are stable at 385 (only 1.3% drop from January 2011)
- Fixed mortgage rates at 30 year low (under 4%)
- Unemployment rate is at the lowest level it’s been in four years
For other markets please click below on the desired area. Market Watch videos are courtesy of the MRIS.
Maryland Suburbs Market Watch - Montgomery and Prince George’s counties {MD}
Southern Maryland Market Watch - Calvert, Charles and St. Mary’s counties {MD}
Northern Virginia Market Watch - Arlington, Fairfax, Fauquier, Loudoun, Prince William, Alexandria, Falls Church, Fairfax City, Manassas and Manassas Park {VA}
Baltimore Metro Market Watch - Anne Arundel, Baltimore County and City, Harford, and Howard counties {MD}
Eastern Shore Market Watch - Caroline, Cecil, Dorchester, Kent, Queen Anne’s and Talbot counties {MD}
Northern Region Market Watch - Franklin and Fulton {PA}, Frederick and Washington {MD}, Berkeley, Jefferson and Morgan counties {WV}
Southern Region Market Watch - Culpeper, Caroline, King George, Madison, Orange, Rappahannock, Stafford and Spotsylvania counties {VA}
Western Region Market Watch - Allegany and Garrett {MD}, Grant Hardy, Hampshire and Mineral {WV}, and Clarke, Frederick, Shenandoah and Page counties {VA}