The 2010 year end statistics for Arlington County show an upswing over 2009 and the outlook going forward seems to be positive as well.
The total number of units sold was down about 2% but the average sold price was up 4.25%. The average time to sell these units dropped by 14%. This reflects a slight decrease in inventory which of course, causes prices to go up.
2011 began very strong with solid numbers in January, and February continued to show improvement.
|Feb. 2011||Feb 2010||Jan 2011|
|Sold Dollar Volume||$69,625,545||$68,885,969||$66,617,642|
|Average Sold Price||$517,226||$492,043||$508,532|
|Average Days on Mkt.||71||59||79|
Based on the number of pending sales it appears that as we begin the Spring Market the increased activity in February will bear fruit in March and April, and as the weather warms up the real estate market will also heat up. With inventory shrinking and prices going up, take advantage of the still low interest rates and find your dream home in one of America’s most vibrant cities.
Market data and commentary by Charlie Carroll, Managing Broker at Avery-Hess, Realtors.
Search for homes in Arlington County, and the rest of the DC Metro: www.averyhess.com