Real Estate Round-Up

City Influence Realtor Outlook shows Business Increasing for area Agents

The City Influence survey of Realtors for June 2009 shows more business activity for agents in the Washington real estate market last month and this month. The Realtor Outlook combines projected transactions, current activity, seller flexibility, buyer demand and anticipated hiring into one index.

One hundred percent (100%) of Realtors reported that they did more business this month than last month. Fifty percent (50%) say they expect to do more business next month than this month. All others reported that business has been and is expected to be about the same. All said they do not expect to hire people in the next month.


The overall index for June showed a significantly positive sentiment among Realtors with a value of 68. The index ranges from 0 to 100. Seventy percent (70%) of Realtors are finding Sellers more flexible in their expectations on price, compared to 80% last month. At the same time, 50% of Buyers are more demanding in their negotiations with Sellers, the same as last month. Twenty percent report that Buyers are actually less demanding, up from 10% last month.



“With the index showing 68 at a positive value, the outlook in the short term remains positive. The key finding in this month's index is that 100% of Realtors are very bullish on their own business expectations and expect to do as much or more business next month than this,” said Kim Hoover, President of City Influence.



City Influence is a real estate marketing and research firm based in Washington, DC. For more information on surveys, marketing or other City Influence services, please contact Kim Hoover at 202-309-5209.



# # # #

Real Estate Round-Up

This week we look at the number of homes that closed for sale in each of our relevant jurisdictions:

District of Columbia

There were 143 closings over the last week in the District. The high list price was $2.396 million, which sold at $2.1 million.

Arlington

In Arlington, there were 71 closings in the last week with the highest list price at $1.199 million. That home sold for $1.1 million.

Alexandria

There were 47 closings in the last week with a high list price of $1.049 million. That home settle at $945 thousand.

Bethesda/Chevy Chase

BCC saw 43 homes settle in the last week. The highest priced listing was $3.95 million. That home sold for $3.7 million.

Real Estate Round-Up

This week we take a look at the number of homes under ratified contract in each of our covered jurisdictions. In each case, the number of homes under contract is HIGHER than the number we saw on April 30.

District of Columbia

As of today, there are 707 homes under ratified contract in the District.

Arlington

There are 207 homes under ratified contract in Arlington today.

Alexandria

We find 177 homes under ratified contract in Alexandria as of today's date.

Bethesda/Chevy Chase

In BCC, there are 188 homes under contract today.

Real Estate Round-Up

Gallup Poll says Americans See Best Home Buyers' Market in Years.

A recently released Gallup Poll says 71% of Americans think now is a good time to buy a home. This is the highest percentage since 2005. Most Americans also think that home prices will not go up over the next year.

Twenty-two percent of Americans think house prices will go up over the next year. But their strong belief that now is a good time to buy indicates that, over the longer term, they believe prices will rise.

Extremely low long term interest rates for mortgages could also be influencing their opinions.

Real Estate Round-Up

City Influence Realtor Outlook shows Business Increasing for area Agents

The City Influence survey of Realtors for May 2009 shows more business activity for agents in the Washington real estate market last month and this month. The Realtor Outlook combines projected transactions, current activity, seller flexibility, buyer demand and anticipated hiring into one index.

Eighty percent (80%) of Realtors reported that they did more business this month than last month. Seventy percent (70%) say they expect to do more busienss next month than this month. All others reported that business has been and is expected to be about the same. Seventy percent (70%) said they expect to hire people in the next month.

The overall index for May showed a significantly positive sentiment among Realtors with a value of 70. The index ranges from 0 to 100. Eighty percent (80%) of Realtors are finding Sellers more flexible in their expectations on price, compared to 61% last month. At the same time, 50% of Buyers are more demanding in their negotiations with Sellers, down from 61% last month. Ten percent report that Buyers are actually less demanding.

“With the index showing 70 at a positive value, the outlook in the short term is quite positive. The key finding in this month's index is that Realtors are very bullish on their own business expectations and plan to hire,” said Kim Hoover, President of City Influence. "This indicates a strong pipeline and increased sales going forward."

City Influence is a real estate marketing and research firm based in Washington, DC. For more information on surveys, marketing or other City Influence services, please contact Kim Hoover at 202-309-5209.

Real Estate Round-Up

Click here for the MRIS Trends in Housing Report for the first quarter of 2009.

The Report indicates that now is the best time in a generation to be a first-time home buyer. Let's take a look at contracts in our covered jurisdictions. Buyers are returning to the market: prices are attractive and homes are selling faster than one year ago. Average fixed rates on conforming mortgages are below 5%.

District of Columbia

The District currently has 634 homes under contract.

Arlington

There are 160 homes under contract in Arlington. The highest list price is $2.8 million.

Alexandria

In Alexandria, there are 163 homes under contract. The highest list price is $2.4 million.

Bethesda/Chevy Chase

Bethesda/Chevy Chase has a whopping 147 homes under contract with the highest list price at $2.9 million.


Bethesda/Chevy Chase

Real Estate Round-Up

This week we continue to look at the number of ratified contracts for sale. Every jurisdiction had more homes under contract this week than last week.

District of Columbia

There were 617 homes under ratified contract for sale on today's date. This compares to 568 last week.

Arlington

Arlington had 153 homes under contract as of today. Last week, Arlington had 140 homes under contract.

Alexandria

167 homes were under contract today in Alexandria. This compares to 148 last week.

Bethesda/Chevy Chase

There were 139 homes under contract in Bethesda/Chevy Chase today, compared to 115 a week ago.