We're rapidly approaching the time of year where we see the most
dramatic seasonal slow-down in the Washington D.C. housing market.
Remember that it's strictly temporary theatrics; demand will respawn and
regenerate as the spring market heats up.
For the week ending November 27, Pending Sales maintained their 10.3
percent lead in the race against last year's numbers, with 1,429 contracts
written. This is the fourth consecutive week of double-digit gains over year-
ago levels. Seller activity continued to mimic last year's levels. New Listings
were down 8.4 percent from 2009 levels, with sellers adding 1,768 homes
to the marketplace.
With less new product and more sales activity, inventory continued its year-
over-year and week-to-week descent. The number of Active Listings fell by
3.6 percent from last year to arrive at 58,908.
Although Months Supply of Inventory was up 1.3 percent compared to last
year, the 12-month average is at 6.8 months which is 16.8 percent lower
than the average for last year. The current 7.3 months of supply indicates a
fairly balanced market.
