There’s Nothing To Buy in Arlington – Effects of the Season

Welcome to the November real estate market – fewer properties to buy, fewer properties sell, and slower sales are typical of a Winter market. I’ve noticed fewer properties are hitting the market of late which means we’ve hit our winter slump into into the Holidays and the new year. Things will begin to pick up again around March, but for a historical look at this time of year, take a look at the numbers below:

Q3, 2010
New Properties on the Market: 830
Days on the Market: 49

Q3, 2010
New Properties on the Market: 675
Days on the Market: 50

Q1, 2011
New Properties on the Market: 1,018
Days on the Market: 56

Q2, 2011
New Properties on the Market: 1,044
Days on the Market: 42

Currently, a total of 587 properties are on the market for sale (active, not contingent). Of those, 449 have been listed for sale within the last 150 days, and only 206 since October 1, 2011.

If you’re thinking of selling your property in the next 30-90 days, here’s some good reasons why you should consider it:

1. Competition isn’t as great
2. Holiday decorations can make the home feel “homier” and make it show better
3. Some people can’t wait to move until the Spring, so they have to buy something now
4. Interest rates are still around 4%, it’s unknown what interest rates will be 3-4 months from now
5. Qualify for 2011 real estate tax deductions for buying before the end of the year on next years taxes