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Annual Press Conference - GCAAR Presentation

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Presentation by the Greater Capitol Area Association of Realtors at the Annual Press Conference - held at the National Press Club in Washington DC on December 15, 2009.

Published in: Real Estate, News & Politics

Annual Press Conference - GCAAR Presentation

  1. 1. 2009 YEAR IN REVIEW Serving Washington, DC and Montgomery County, MD
  2. 2. Shelly Murray President, 2010 Greater Capital Area Association of ® REALTORS GCAAR Copyright 2009© 2009©
  3. 3. Montgomery County Median Prices $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 2007 2008 2009 GCAAR Copyright 2009© 2009©
  4. 4. District of Columbia Median Prices $500,000 $400,000 $300,000 $200,000 $100,000 $0 2007 2008 2009 GCAAR Copyright 2009© 2009©
  5. 5. Montgomery County Settlements Single Family 1,000 900 800 700 600 500 400 300 200 100 0 GCAAR Copyright 2009© 2009© Settlements up since March
  6. 6. Montgomery County Settlements Condominium/Co-ops 240 200 160 120 80 40 0 08 07 09 20 20 20 GCAAR Copyright 2009© 2009© October settlements up 86%
  7. 7. District of Columbia Settlements Single Family 400 350 300 250 200 150 100 50 0 07 08 09 20 20 20 GCAAR Copyright 2009© 2009© October 40% increase in settlements
  8. 8. District of Columbia Settlements Condominium/Co-ops Settlements up throughout 400 summer and into fall 350 300 250 200 150 100 50 0 GCAAR Copyright 2009© 2009©
  9. 9. Montgomery County Inventory Single Family October level 5,000 down 50% 4,500 over 2008 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 GCAAR Copyright 2009© 2009©
  10. 10. Montgomery County Inventory Condominium/Co-ops Levels down all 1400 year 1200 1000 800 600 400 200 0 GCAAR Copyright 2009© 2009©
  11. 11. District of Columbia Inventory Single Family Levels have been down since April 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 7 8 9 2 00 2 00 2 00 GCAAR Copyright 2009© 2009©
  12. 12. District of Columbia Inventory Condominium/Co-ops 2000 1500 1000 500 0 07 08 09 20 20 20 Levels began shrinking in GCAAR Copyright 2009© 2009© March
  13. 13. Montgomery County Average Days on Market Steady decline 140 since August 120 100 80 60 40 20 0 7 8 9 200 200 200 GCAAR Copyright 2009© 2009©
  14. 14. District of Columbia Average Days on Market Days on Market up 150 100 50 0 07 08 09 20 20 20 GCAAR Copyright 2009© 2009©
  15. 15. Montgomery County Absorption Rate 30% 25% 20% 15% 10% 5% 0% 2007 2008 2009 GCAAR Copyright 2009© 2009©
  16. 16. District of Columbia Absorption Rate 35% 30% 25% 20% 15% 10% 5% 0% 2007 2008 2009 GCAAR Copyright 2009© 2009©
  17. 17. District of Columbia & Montgomery County Median Year End Price 500,000 400,000 300,000 200,000 100,000 0 Wash DC Mo Co GCAAR Copyright 2009© 2009©
  18. 18. Total Units Sold - Historic Total sales now closely resembling 1997 “Normal Market” numbers projected GCAAR Copyright 2009© 2009©
  19. 19. November & May Inventories - Historic 5000 4500 Montgomery 4000 County single 3500 family inventory 3000 stands apart 2500 2000 1500 1000 500 0 DC Single Family MC Condo GCAAR Copyright 2009© 2009© MC Single Family DC Condo
  20. 20. Days on Market - Historic • SIGNIFICANTLY BELOW 180 160 1996, 1997, and 1998 140 numbers 120 100 80 60 40 20 0 Montgomery Co. DC Jan - Nov GCAAR Copyright 2009© 2009©
  21. 21. Good Market Fundamentals Low interest rates Relatively strong local job market Healthy inventory Extension and expansion of home buyer tax credits GCAAR Copyright 2009© 2009©
  22. 22. What’s holding us back? Availability of mortgages Appraisal Issues GCAAR Copyright 2009© 2009©
  23. 23. 2010 FORECAST •Steady inventory, sales & prices •Stabilizing economy •More confident buyers GCAAR Copyright 2009© 2009©
  24. 24. For more information, please visit www.GCAAR.com Statistics available around the 6th of every month GCAAR Copyright 2009© 2009©

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