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$100 Bill

What Can $100 Buy You?

October 3, 2014  |  by Chris Sicks

How much home can you get for $100? Not much, of course. But that sum will buy you 1.4 square feet of condo in Charles County, or just 0.2 square feet of condo in the District. That’s the kind of interesting thing I found playing around with the new data RBI has made available at GetSmartCharts.com. Did you realize that... Continue Reading

Washington DC Area

Housing Affordability a Challenge

August 8, 2014  |  by Chris Sicks

It is, of course, a cliché that “location, location, location” is what matters most to home buyers. Today, however, many may be more concerned with “price, price, price.” The median sales price for homes sold in the second quarter was $425,000 in the DC Metro area. We’ve only seen it that high three times before: in Q2 2013, Q2 2007,... Continue Reading

Housing Market Trends for 2014

What’s the Market Pulse for Different Housing Types?

May 19, 2014  |  by Chris Sicks

I’m sure you are often asked: “How’s the real estate market?” The best response may be: “Which market do you mean? Are you talking about detached homes in Baltimore County, or condos in the District?” The Mid-Atlantic region contains so many communities and home types that it is hard to make any generalizations about real estate at all. The charts... Continue Reading

Cash Deals

Many Buyers Bring Cash To Settlement

May 7, 2014  |  by Chris Sicks

Would you believe that 23 percent of Baltimore-area home purchases last year were paid for with cash? That surprised me, and made me wonder how purchases in the DC area were paid for, and how those numbers compared to recent years. That’s why we prepared the charts below. As you can see, the percentage of purchasers that brought cash to... Continue Reading

Homes in Winter

Did Snow Slow February Sales?

March 19, 2014  |  by Chris Sicks

Does snow affect the local housing market? It seems so, but it’s not always as clear as you might think. The chart below compares ratified sales contracts with snowfall in January and February. As you probably know, February is almost always a better sales month than January. Yet a lot of snow can cause February sales to drop lower than... Continue Reading

Sold

Price Disparity Revealed when Comparing Sales Data

March 5, 2014  |  by Chris Sicks

As you know, there is a significant difference between median and average sales price data. That’s why MRIS reports both. Median price data gives you an idea of the overall affordability of an area. It is less volatile than average price data, which fluctuates more because it is easily swayed by a few very expensive sales. Although median and average... Continue Reading

2013 vs 2012

2013 Market Better Than 2012 in Every Way

February 24, 2014  |  by Chris Sicks

The Baltimore and Washington housing markets were better in 2013 than they were in 2012. If that sounds like a sweeping statement, it is, and I stand by it. Just look at the charts below. There are many possible ways to measure the health of the real estate market, yet 2013 beat 2012 in all of these ways. Let’s start... Continue Reading

On the Rise

Resale Listings Shot Up Last Year as Market Improved

January 23, 2014  |  by Chris Sicks

A six-year decline in resale listings was reversed in 2013. While 2012 was the slowest year for resale listings in over a decade, listings climbed in 2013—by quite a lot. Last year the MRIS database recorded a 9 percent increase in home listings in the DC metro area, and a full 14 percent in the Baltimore metro area. Obviously, many... Continue Reading

Contracts vs Settlements

Contracts Vs Settlements

November 7, 2013  |  by Chris Sicks

This year, more contracts have been written on Washington- and Baltimore-area homes than in any year since 2006. More than 72,000 sellers signed sales contracts with buyers during the first three quarters of 2013. That’s a 6-percent increase over 2012. Back in 2006, the year that the real estate bubble had just begun to burst, we also saw 72,000 resale... Continue Reading

DC Metro Area Inventory

What Sellers Must Know Right Now

October 22, 2013  |  by Chris Sicks

Back in May, we considered the state of the market from a buyer’s perspective. Now it’s the home sellers’ turn. If you want to sell a property in the Mid-Atlantic region in the next few months, what can you expect? Short answer: It would have been easier to sell in the spring. At the same time, plenty of homes are... Continue Reading

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