Market in a Minute & StatPak March 2017
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.
What's 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 - March 2017 StatPak with Contract Snapshot from February 2017
Montgomery County - March 2017 StatPak with Contract Snapshot from February 2017
CONTRACTS: Contract activity in February 2017 was down 2.0% from February of 2016 and there was an increase in three of the six price categories. The drop in activity in the lower price ranges is likely due to the very low inventory of available homes. The average number of days on the market for homes receiving contracts was down from 78 days in February 2016, compared to 58 days in February 2017.
View the complete Montgomery County March 2017 StatPak Report including Market in a Minute
Washington D.C. - March 2017 StatPak with Contract Snapshot from February 2017
Loudoun County - March 2017 StatPak with Contract Snapshot from February 2017