Summer Slowdown?

It’s almost July 4th, a time of year when real estate inventory and sales begin to slow down for the summer while people are away and improvements are made to homes in preparation for the Fall market. Mostly, this means that inventory levels and new homes will start to slow down so your options may be slimmer on new places to see. However, we had an incredibly busy Spring market, which is just now starting to close for all those contracts written during April and May.

Expect to see an increase in average sale price and decrease in days on the market as we continue through the year. Also, you can expect inventory levels to being to increase again towards the end of August/Early September. Our foreclosure and short sale market is almost non-existent (about 3% of active inventory in Arlington), and since new inventory is still down, prices will continue to climb.

I think in January 2013, we’re going to have some interesting reflections on the 2012 real estate market. The least of which will certainly be concrete sales to prove our market is gradually and steadily increasing and strengthening every day.