Low inventory continues to plague the D.C. housing market
But prices are on the slide as fewer properties go on the market than in previous months Estate agents have slashed house prices in recent weeks says survey average asking price down by 1.5 per cent to 245,495 Lowest number of houses coming on to market reported since February PUBLISHED: 19:32 EST, 15 September 2013 | UPDATED: 19:33 EST, 15 September 2013 5 shares comments Estate agents have marked down house prices in recent weeks and there has been a drop in the number of properties coming on to the market, says a survey. The average asking price is down by 1.5 per cent on a month ago, a fall of 3,704 to 245,495, according to the estate agent website Rightmove. It also reported that the 96,330 properties coming to market in the past month was down by nine per cent on the previous four weeks and the lowest figure since February. Estate agents have reportedly marked down house prices in recent weeks and there has been a drop in the number of properties coming on to the market Its survey published today calls into question claims that the country is in the grip of a dangerous property price bubble.
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Prince Georges and Loudoun counties showed the biggest year-over-year median price growth. Prince Georges median price last month soared to $209,000 from $175,000 in August 2012, a 19.4 percent year-over-year increase. Loudouns median price last month jumped to $435,000 from $377,000 in August 2012, a 15.4 percent increase. Prince William and Montgomery counties also had double-digit year-over-year median price games. Prince Williams median price last month climbed to $310,000 from $275,500 in August 2012, a 12.5 percent increase.
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Better housing market leads to more foreclosure activity
It may seem counterintuitive, but its a a better time for them to foreclose now that the market is improving because they have a better chance of recouping their losses on the property, Blomquist said. RealtyTrac, of Irvine, Calif., is a for-profit firm that tracks real estate data nationally. According to information from the Clark County Sheriffs Office, 527 sheriffs sales were conducted between January and Aug. 16 last year.
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