Arlington, VA Market Report – 12/21/09

21 Dec
December 21, 2009

Last month I closed my report by suggesting that perhaps we were beginning to see a return to normalcy in the Arlington market. The November statistics show a significant improvement over the same period last year. Compared to the previous month the numbers are relatively stable with one exception. Here are the latest numbers from Arlington, Virginia.

  • Active listings: 803
  • Closed sales: 230
  • Pending sales: 213
  • Average sold price: $509,003
  • New Listings: 208
  • Average days on market: 53

The significant concern is a 50% drop in new listings from October, resulting in a 15% drop in the total number of homes currently on the market. Declining inventory is problematic in a period where incentives are provided to both first-time and move-up buyers. This drop in inventory could be attributed to a seasonal change. Some homeowners may have decided to wait until early spring to list their homes because the Federal Housing Tax Credit has been extended to the end of April and they anticipate prices to be more favorable then. Regardless, it remains a good time for buyers with favorable interest rate, and reasonably priced homes.

Market data and commentary by Charles J. Carroll, Managing Broker at Avery-Hess, Realtors.

Search for homes in Arlington, and the rest of the DC Metro: www.averyhess.com

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