June 2012 Market Watch

Want to know how the June 2012 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 - June 2012

Overview

• 2nd Quarter economic growth slowed nationally with 80,000 jobs added in June 2012 and unemployment at 9.0%
• Sales and pending sales are up with most markets experiencing price increases
• New construction is rebounding
• Washington, D.C. has added 13,000 resident workers in the past 12 months
• Sales volume has increased 5.9% (compared to last June) to 702 units
• Active inventory is down 32.4% from June 2011 at 1,611 units
• New listings are down 9.0% form June 2011 at 869 units
• Median home prices are up 4.6% over June 2011 to $455,000 – a record high!
• Average time on the market is at 52 days (23.5% decrease from last June)
• Homes sellers are obtaining 97.5% of list price (up 2.9% from last June)
• Interest rates are still holding at all time lows

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}