May 2008 - Arlington County Real Estate Sales Figures are IN…

June 9th, 2008 Categories: Arlington Dirt, Market Stats

I can hardly believe another month has rolled by – school is almost out, temps are pushing 100 and summer is just around the corner. Usually May is a strong selling month for us and while it held its own, it’s clear to me that we are not in the same tempo we were a year ago.

Here’s how the numbers looked for May:

Arlington May 08

The numbers are fairly consistent with what the spring has looked like. Nothing alarming, but look at this May as compared with May of 2007. Condos:

Condos Yr over Yr May 08

We are down by over 30%, both in contract AND sold, while inventories are fairly consistent to last year…. hmmm…

Here’s what the single family home market looks like:

SFH Yr over Yr May 08

Same numbers hold true for this market – just under 30% fewer sales year over year. Oddly enough, anecdotally, the market feels very good. Open houses are well attended, people are writing contracts and condos and homes ARE selling!

Even our absorption rates look decent when compared with national numbers:

Absorption rates may 08 arl

So there you have it. Don’t be shy – it’s an excellent market for both buyers and sellers. I’ve been saying for some time now that it’s a very balanced market.

Call to chat anytime! I’m staying inside to avoid melting – today someone asked me “like ‘The Wizard of Oz’ melting?” Yes, I said, nice visual!