Market Statistics – June Sale Contract Activity
Here is a snapshot of the recent sales contract activity in our current market. This is a comparison of activity for the week of June 6-12 2009 vs 2011.
Here is the comparison for the same week in June against 2010.
Our Chief Information Officer, David Howell provides the following commentary for these statistics,
“Three of the four jurisdictions saw an increase in contract activity last week compared to the same week last year – Montgomery County was the exception, down just 2.1%. The overall increase in contracts was right at 5%.
However, compared to the same week of 2009, overall contract activity was down 6% last week. Dc’s activity was unchanged, but the other three were down.
If there’s a “takeaway” from these numbers and the others we have tracked over the last several weeks, it’s that signs of a recovery are modest at best. We are still MUCH better off than almost any place in the country, but there is no general upward pressure on prices. Some small pockets may be doing quite well, but overall this is not a time for sellers to be pushing the envelope on pricing. This is especially important to know in light of recent housing reports – including Case Shiller – that indicate that prices are going up.”
Lastly, here is a link to a recent blog post from MRIS (our software provider for all local Multiple Listing Service data). Even there you will see that many times, when you hear ‘Washington DC’ in the titles of reports, all of the data may or may not include the information for all of the mini-jurisdictions within the area.