Arlington County Market Report – 4/7/10

07 Apr
April 7, 2010

Depending on who you ask, Arlington is either the biggest small town, or the smallest big city you’ll visit. The many neighborhoods (or urban villages as they call them) are mixed with soaring high rise buildings and well-kept, turn-of-the century homes, high end shopping or funky little boutiques, 5-star dining and little neighborhood deli’s and pizza shops.  Arlington is home to several national historic landmarks like the Marine Corps Memorial (Iwo Jima), Arlington Cemetery, the Pentagon Memorial and many more. And, it’s just a few minutes from the nation’s capital. It’s no wonder that Arlington is not just a fabulous tourist attraction but a wonderful, dynamic place to live. 

The first few months of 2010 show a slight upward trend in the housing market and the year over year figures indicate a rise from the same period last year. The total number of homes sold is up by nearly 50%, the average sales price continues to go up with a 3.5% increase, the average days on the market has decreased from 90 to 61, a 32% decline. Sellers are getting 95.5% of the asking price as opposed to 92.5% last year.

The market, while not fully “recovered,” is certainly headed back in the right direction. We should continue to see improvement as we get closer to the April 30th deadline for the Federal Tax Credit benefits for first time and move-up buyers.

Commentary and analysis provided by Charlie Carroll, Managing Broker, Avery-Hess, Realtors

Find Your Home. Plan Your Life. www.averyhess.com

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