November Figures are in for Arlington Home Sales
December 6th, 2007 Categories: Arlington Dirt, Market Stats
And the results are truly a mixed bag. For all of the media hype about what a bad market it is right now, we’re still seeing some good successes in these closer in markets. Frankly, we’re beginning to see successes overall where homes are priced appropriately and presented well, no matter where they’re located. Sometimes it is still taking some time, which is frustrating for the sellers. However, a home seller in the DC area can have hope!
Here’s how the numbers look for just the month of November, 2007 and how it compares with just last November:
November 2007 Arlington County Home Prices and Sales Figures:
What I see in this is that drastically fewer homes were sold pretty much across the board during the November 2007 period when compared with 2006; additionally, at least for just this month, average selling prices were off in the condo market, but held steady or even saw increases over last year for the single family home market.
The following table shows year over year sales data:
From this I see that from an overall perspective, we’re holding steady. I see no huge surprises or ah-ha’s… One thing I’m noticing though is the inventory is rising, which affects absorption rates – in other words, how long will it take to sell through the current inventory at the current rate of sales?
We’ve seen these numbers steadily rise since I began reporting them.
Any way you slice and dice it - it’s a terrific time to be a buyer – interest rates have softened a bit in the last week or so. Sellers WANT TO SELL and hey, wouldn’t you rather buy NOW than in a bidding war? Give me a call or drop me an email anytime you’d like to discuss real estate!
Happy Thursday and, by the way, enjoy the snow!
Jennifer
Copyright © 2007 Arlington Dirt Real Estate Blog 