Q. “How many of the 7 indicators measured are trending in the right direction to bring the MRIS region’s housing market back towards balance?”
~ New listings: down 6.3 percent from a year ago.
~ Pending sales: up 31.0 percent.
~ Active listings: down 30.9 percent.
~ Days on Market Until Sale: down 10.4 percent.
~ Percent of Original List Price Received at Sale: up 0.8 percent.
~ Housing Affordability Index: up 13.5 percent.
~ Months Supply of Inventory: down 35.6 percent.
A. “That’s 7 out of 7, if you’re keeping track at home. The bottom line is that the market is moving back towards balance slowly but surely.”
(Report above is from the MRIS Weekly Market Activity Report Dated August 17, 2009)
Note: Whether we are in a Buyers Market or Sellers Market can vary wildly from town-to-town, neighborhood-to-neighborhood, and price range-to-price range. If you’d like more detailed information about your neighborhood - what homes are selling for, what the inventory is, what your home may be worth, etc - just give us a call at (703) 242-3975.