Inventory of available homes for sale in Bloomingdale is the lowest I've seen since I've been tracking Bloomingdale real estate stats for the past 9+ years. There are a couple of open houses scheduled in the general area for Sunday. Perhaps more listings will show up after Labor Day? Here is a map.
You can see all available currently active listings for Bloomingdale, LeDroit Park, and Eckington here. To get details on individual listings, scroll over the pushpins on the map. **Note that these homes are not scheduled for open houses unless listed above**
Suzanne, I need a nice big home with basement rental for 600K, and, you're right, its darn near impossible to find the "perfect" place right now!! (*Exasperated!)
ReplyDeleteSincerely,
Fritz Hubig | NAR GREEN® Realtor® DC/MD/VA
Phoenix Real Estate Solutions
p. 202.907.3733 | e. info@collectivespace.com
Fritz, I'll keep you posted when I have something coming up but I feel your pain.
ReplyDeleteFrom the NY Times: Housing Fades as a Means to Build Wealth, Analysts Say
ReplyDeletehttp://www.nytimes.com/2010/08/23/business/economy/23decline.html?_r=1
Good thing that DC is different from everywhere else!
The laws of physics and economics do not apply here.
ReplyDeletehow many of you really bought the house you live in "to build wealth"? i didn't. i bought it because i wanted to live somewhere and i didn't want to get kicked out because someone else wanted to sell it.
ReplyDeletewhatever the trend is, i'm glad i own a home.
I you really wanted to rent, and bought only because you might get evicted, you need not have worried about that in DC. As say this as a renter who is waiting, waiting to buy a house that a crazy-ass tenant refuses to leave.
ReplyDeleteYes, because living in the same place for a loooong time is good!
ReplyDeleteNational Association of REALTORS report indicates "Existing Home Sales lowest since 1996, with 12.5 months of supply"
ReplyDeleteBased upon what I've read here on this blog, that is a good thing! Blogs which study economics say otherwise, however:
http://www.calculatedriskblog.com/2010/08/existing-home-sales-lowest-since-1996.html
From July 2009 to July 2010, existing home sales volume in DC has dropped over 18%.
ReplyDeleteThat's great news! Isn't it?
Ever better is the news for Detroit, which is down over 19%!
We're talking about two different things. Overall volume of sales has gone down in DC. The decrease in months of supply of inventory is what differentiates our market from many others across the country.
ReplyDeleteIt's important to look closely at stats for "DC", because it typically refers to the "DC Metro Area".
Yep, DC (the District and only the District) experienced a decline in sales volume of over 18%
ReplyDeleteEconomist Tom Lawler's Data
Inventory is down too. What we can't quantify is how many people want to sell and dare not try given the declining demand for mortgage debt... oops, I mean "the declining demand for homeownership."
For anybody who is interested in NAR's original press release, here it is. Note that the numbers are specifically for July, and that the drop was predicted due to the acceleration of the buying activity generated by the tax credit deadline.
ReplyDeletePer Fritz's comment above, I also have buyers who are looking to buy right now but are frustrated with lack of inventory.