Thanks to bubblemeter for the charts. And Eric B for these posts in Bubbletalk for pointing out these terribly amazing numbers.
I think Northern Virginia is now speeding up and closing in on Miami and Phoenix for the messiest market award:
Here's Eric's posts:
To answer the questions about seasonal effects. It is not seasonal. Generally Jan and Feb are the months with the FEWEST listings. The Northern Virginia Association of Realtors (www.nvar.com) recently released the ACTIVE LISTINGS numbers for Jan 06.
If we compare them to Jan 05 we show an increase of 392.54% for all listings.Jan 06 - 5876 up 392.54%Jan 05 - 1193 down 40.47%Jan 04 - 2004 down 41.33%Jan 03 - 3416 up 49.50%Jan 02 - 2285 down 1.42%Jan 01 - 2318 If you think that 392% up in a year is normal then have I got a condo for you!
For you all watching condos in Northern Virginia the inventory on condos/coops went up 540% YOY! see www.nvar.com for more information
Eric in DC
February 24, 2006
Look at these amazing numbers coming out of DC
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4 comments:
sad, truly sad
What makes the Northen Virginia insanity so real is the extradionary cheap prices in Baltimore and Richmond VA. Everyone knew Northern Virgina was way over price, but they bought as long as their money was safe.
These micro bubbles are nothing more than micro bubbles though. As DC gets pounded Baltimore keeps coming closer to their real estate prices, my house went up nother 25% in the past year. It will go up again next year.
And before you tell me I'm wrong. Guess how much I paid for my 3 story colonial on 1/3 acres in Baltimore city back in 2004.
check out America's most expensive house:
http://overvalued.blogspot.com
Sandmo
Hellllllllllloooooooooo
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