Guy Wolcott, co-founder of Sawbuck.com, the online brokerage based in D.C., shared some local inventory numbers with me recently. Looking at the inventory of homes listed for sale on the local multiple listing service, Metropolitan Regional Information Services, the cupboard is pretty bare in spots.
At the current sales pace, Manassas Park City has just 1.3 months' worth of listings. Manassas City, just 1.4 months. Falls Church City, 2.1 months; and Fairfax County just 2.7 months. Arlington County has 3.9 months.
The rule of thumb says 6 months' inventory marks a balanced market--favoring neither sellers nor buyers. According to the MLS data, the Washington metro area as a whole has only 4.5 months supply available--making it a bit of a seller's market. The District, proper, has 5.1 months' supply.
Montgomery County has only 3.8 months' supply, but with that exception, Maryland still has enough inventory that favors buyers. Prince George's County has 8.1 months' supply, and the Maryland suburban counties, combined, have 8.4 months' supply.
http://voices.washingtonpost.com/local-address/
The Mike Webb Team: www.northernvirginiahouses.com
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