Arlington County Market Report – 1/22/13

22 Jan
January 22, 2013

Have you heard about the law of supply and demand?   Buyers want homes that are priced right and look good.  When a home like that comes on the market, it is likely going under contract in less than 60 days.  Supply is decreasing and with demand growing, homes coming on the market now are priced a little higher than they were last year.

If you felt you were underwater on your home loan (meaning owing more on your mortgage than what you think your home is worth if you sold it) you owe it to yourself to find out the present value of your home.   You may be surprised.  Your home might be worth more than you think.   Is now a good time to be a seller?    Absolutely!

December 2012 December 2011 November 2012
Total Revenue $96,995,744.00 $89,805,314.00 $126,887,635.00
Average Sold Price $554,261.00 $531,392.00 $558,976.00
Units Sold 175 169 227
Average Days on Market 51 62 40
Active Listings 272 479 334
New Listings 116 132 169
New Pending Sales 138 142 177

Our agents at Avery-Hess, Realtors are experts in the field of real estate.   We’re available to answer any questions you may have so don’t hesitate to contact us.  Visit our website at www.AveryHess.com.

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Patricia Mancini, Sales Manager at the Avery Hess, Realtors Springfield Office

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