Spring Real Estate in Arlington, VA – A Price War!
Spring Real Estate in Arlington, VA: As we near the end of March (where does the time go?) and great ready for April, I decided it was time to revisit some Arlington statistics. I pulled some stats on Single Family Homes in the zip code: 22207 (Country Club, Country Club Hills, Lee Heights, Berkshire Oakwood, and more of the neighborhoods around North Arlington). I only pulled these stats for 22207 because the numbers for all of Arlington vary. I’m happy to research and explain the different trends throughout the county.
2007 2008 2009
January 3 14 10
February 34 27 9
March 47 23 21 (so far)
April 30 32 TBD
Average Sale Price $873,603 $877,244 $739,607
Average Days On Market 99 73 64
Total Sales 94 55 25 (so far with 33 more under contract)
So what do these numbers tell us? Prices are a little lower strictly based on statistics because fewer of the higher end priced homes (think over $1M) are selling. Because jumbo money is harder to come by these days, the lower priced homes are selling more frequently and faster. Sales this year are lower than in years past, but it’s still a buyers market. Things are selling faster because prices are better and interested buyers are moving quicker.
Some observations on the local market that can’t be captured by statistics.There are so many home buyers out there looking right now – spring real estate in Arlington, VA. People looking to capitalize on the new tax credit, historically low interest rates, and lower prices. I’ve seen multiple offers on properties within days of coming onto the market. Now is the time to start looking and exploring your options for buying! April and May look to be busy times in the Northern Virginia and Washington, D.C. real estate markets.
For sellers, price is everything. There are people who want to buy your house!