Georgetown DC Real Estate Market Reports

    Market Activity Index:  Residential housing prices are based on supply, demand, and marketplace. The Market Activity Index conditions can be characterized by analyzing these factors to help create forward-looking pricing trends.

 Median Sold Price:  The median home price is a popular statistic used to compare real estate prices in different markets, areas and periods. Some argue that this measurement is less biased than the mean (average) price because it is not as overly influenced by small numbers of extremely highly priced homes.  Home prices are limited through various factors, such as income of buyers, cost and ability to construct new property - adding to supply, and demand for rental units.  Because a majority of all homes purchased are purchased with a mortgage,  the ability to make payments, borrow money, and the cost of borrowing money bring practical limits to high prices rise before facing resistance due to values hitting levels where potential buyers are unable to qualify for a loan.  For the most part, the ratio in the US are home values at 2-4 times annual income levels.

  Average Days on Market: Days on the Market Property (DOMP) is the amount of days that a home has been listed for sale to the public on the MLS (Multiple Listing Service).  The days on the market statistic is of interest when a person is valuing real estate for the purpose of comparison. More days on the market than average may indicate a listing that was overpriced. The other use for this statistic is allowing prospective home sellers an idea of how long it may take to sell a property.  30 days or less is ideal, if an initial list price is not receiving any offers within its first week, there should be discussion to lower the list price.

  Average Sold to Asking Price Ratio:  The graph below identifies the average actual sale price, versus original listing asking price - grouped by property type over 2 years.

Jayson Wingfield,
Feb 10, 2013, 9:05 PM