In Washington D.C. proper, the housing market continued to indicate what the tea leaves have been telling us, inventory is down, contracts and sales numbers are up and the end of 2009 is finishing on solid footing.

In November 2008 there were a total of 1809 active listings in the Washington D.C. single family home market. In 2009 there are 1381 for a 23.7% difference! New listings reflected the same kind of trend…there were 388 NEW listings this November compared to 458 last November. What’s all this mean? SUPPLY IS DOWN! Which as we all learned in the 7th grade social studies is a good thing for economic growth.

That’s not the only indicator the statistics are continuing to show us that the Washington D.C. housing market is finishing the year strong…of the new contracts ratified this November, there was a dramatic improvement of 41.9%!!! That’s right – sales increased from 229 last November to 325 this November! Look Below…

In terms of price ranges, the houses that are moving seem to be reflective of common sense, where the more affordable housing is the largest segment of the overall market.

But, perhaps, there is no more dramatic a number in all the statistics than those reflected in the settlements category! In 2008 only 172 single family homes closed. Now this is the same time that caused the world to shutter, but numbers are numbers. In November 2009 309 single family homes settled. That is an improvement of 79.7%.

In any event, the indicators based on these statistics look like the single family home market in Washington D.C. is recovering well for and heading us into the new year.

Blogs soon to come:

November 2009 Washington DC Housing Statistics – Condo/Coops
November 2009 Montgomery County MD Housing Statistics – Single Family Homes
November 2009 Montgomery County MD Housing Statistics – Condo/Coops

Data Source: Metropolitan Regional Information Systems, Inc. (MRIS)
Statistical Graphics: Greater Capital Association of Realtors