Washington, DC (PRWEB) September 22, 2010
In her August 2010 housing market report for the Washington, D.C. Metro area, Evers & Co. Real Estate President and Broker Donna Evers reports a 6.24 percent decrease in sales volume in comparison to August 2009. She notes that the decrease is considerably less than the area experienced in July, after 14 months of consistent growth.
"The decrease margin for dollar volume of sales seems to be narrowing, and we're expecting to see positive numbers again this fall," Evers said. "Remember, that every action has a reaction, and the First Time Homebuyers Tax Credit that created the bullish month in April, also caused the reaction of a slowdown in sales in July and August."
Evers also reports an average 5.11 percent increase in price for the three close-in Metro area jurisdictions and a healthy 4.7 months' supply of product on the market.
"The key to jumpstarting the local market once again, without the crutch of a federal tax credit, is consumer confidence," Evers notes. "Now people are questioning whether prices will come down again, leaving buyers and sellers in a stubborn stalemate. As confidence in the stock market rises, we'll see that transfer into the local housing market, especially with the upper-bracket price point properties. "
*Statistics are taken from the Metropolitan Information System for three areas: Washington, D.C., Montgomery Country, Maryland; and Fairfax County, Arlington, Alexandria and Falls Church in
About Evers & Co.
Founded in 1985 by Donna Evers, Evers & Co. Real Estate maintains its success through a strong referral base and agents who enjoy a premier reputation for their expertise and in-depth knowledge of Washington Metro Area homes and neighborhoods. Evers & Co. is home to 80 licensed real estate professionals with decades of combined experience, who enjoy access to a first-of-its-kind Agent Resource Center. The agency is the largest woman-owned and-operated residential real estate firm in the area and a member of Unique Homes Affiliate Network, Who's Who in Luxury Real Estate and FIABCI, the largest international real estate organization in the world. In addition, the agency has an alliance with My Home In Paris, a residential real estate firm in Paris, France.