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September Home Inventory Shows There is Less to Choose From

  • October 10, 2011

by Mark Wellborn

The inventory of homes for sale last month was well below the five-year average for the DC area, according to data released recently by RealEstate Business Intelligence (RBI). Specifically, there were 14,791 active listings at the end of September, 23.8 percent below the monthly average of the past five years of 19,401 homes for sale.

While this news may come as frustrating/validating to those that have been on the house hunt recently, there was some positive news on the home price front. The median sales price last month ($338,000) was at its highest level for the month of September in four years.

September Home Inventory Shows There is Less to Choose From: Figure 1
Courtesy of MRIS

The area that MRIS analyzes includes DC, Montgomery County, Prince George’s County, Alexandria City, Arlington County, Fairfax County, Fairfax City, and Falls Church City.

See other articles related to: realestate business intelligence, mris, home prices

This article originally published at http://dc.urbanturf.com/articles/blog/september_home_inventory_shows_there_is_not_a_lot_to_choose_from/4319

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