Monthly Charts Updated with September Data

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October 15, 2007

1.bmp The monthly charts (Fairfax and Loudoun) are updated today with September MLS data (look for the charts under Topics-->>Market Conditions). There is no good news with one exception: Loudoun average price actually increased 5% over August. Go figure...in fact, Fairfax average price took a big drop. Both Fairfax and Loudoun are showing total sales significantly down from last month. September is generally a slow month. Keep watching.

History does not necessarily repeat itself. What is interesting is that the inventory is remaining constant as opposed to last year at this time when it started a steep decline into the winter months. The decline last year was primarily do to withdrawals from the market. Although withdrawals are up, they are not as high as last year. You can see these trends on the Daily Market Watch (now called Weekly). Check out the links on the Front Page top-center.

It has been a long dry summer in the DC metro area. Looks like the real estate draught continues into the winter and beyond. I am now thinking we need to dissipate the short sale and foreclosure inventory before we see any turn around at all. Odd...last year at this time I was saying the same thing about investor dumping.

It is still a good time to be a buyer.

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