Market in a Minute

Market in a Minute & StatPak October 2016

In this month's edition we include additional comparisons for the first half of 2016 in order to provide a broader market view. 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. 

New in StatPak - The URGENCY Index.

A few months ago we introduced a new metric – the Urgency Index. This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.



Northern Virginia - October 2016 StatPak with Contract Snapshot from September 2016

CONTRACTS: Contract activity in September 2016 was down just 0.5% from September 2015, and there were increases in three of the six price categories. However, through the first nine months of the year, new contract activity is up 3.5%. The average number of days on the market for homes receiving contracts was 56 days in September 2016, down slightly from 57 days in September of last year.

View the complete Northern Virginia October StatPak Report including Market in a Minute

 

 

Montgomery County - October 2016 StatPak with Contract Snapshot from September 2016

CONTRACTS: Contract activity in September 2016 was up 3.1% from September of 2015; there were increases in four price categories. Through the first nine months of the year, new contract activity is up 4.3%. The average number of days on the market for homes receiving contracts was down from 64 days in September 2015 to 56 days in September 2016.

View the complete Montgomery County October 2016 StatPak Report including Market in a Minute

 

 

Washington D.C. - October 2016 StatPak with Contract Snapshot from September 2016

CONTRACTS: Contract activity in September 2016 was down 6.3% from September of 2015, and there were increases in the two middle of the six price categories. Through the first nine months of the year, new contract activity is up 3.1%. The average number of days on the market for homes receiving contracts was 35 days in September 2016, down from 38 days last September. DC has the shortest average days on market in the metro area by almost three weeks. 

View the complete Washington D.C. October 2016 StatPak Report including Market in a Minute

 

 

Loudoun County - October 2016 StatPak with Contract Snapshot from September 2016

CONTRACTS: Contract activity in September 2016 was up 15.5% from September of 2015, and there were increases in five of the six price categories. Through the first nine months of the year, new contract activity is up 7.4%, the best in the metro area. The average number of days on the market for homes receiving contracts decreased from 70 days in September 2015 to 54 days in September 2016.

View the complete Loudoun County October 2016 StatPak Report including Market in a Minute