River East Report’s “Hows the Market” Monthly January 2009 Update

Hi, welcome to our first monthly “Hows the Market” residential housing report for Washington D.C. presented by River East Report. We will be publishing these free reports every month to provide an overview of the housing market in Washington, D.C. We also have available a weekly report available to subscribers—DON’T WORRY ITS FREE AND ALWAYS WILL BE FREE!–that will provide market information down to a neighborhood level.

In addition to the monthly and weekly reports we can also run custom reports on request–so free feel to contact us and let us what you need to see to help you evaluate the market better.

The first index we chart every month is the Market Action Index.   This chart gives a general sense of the market, a reading under 30 indicates a buyers market and a reading above 30 indicates a sellers market.

As you can see from January’s chart we are strongly to the Buyer’s market side of the index.

There was some good news last month as the Median House Prices in D.C. appeared to settle and begin to turn up on a short term basis. Hopefully that is a good indicator for the coming year.

You can see in the chart below that the Washington, D.C. housing inventory on the market began to drop last month as folks usually take their homes off the market over the holiday season and wait for the spring selling season.

As I expected the Average Days on Market for Washington D.C. continued to rise last month, even though the short term reading has begun to drop.