The Arlington Va real estate market statistics are (through May 2013):
Sold (Single Family, Condos and Townhouses)
330 Closed Sales
$627,041- Average Sales Price
98.88% – Average Sold to Orig List Price
28 average days on market
Homes are selling very quickly in Arlington. This is still a strong seller’s market – there are more buyers than sellers right now. The average number of days on the market is still very low – homes are selling in 28 days on average.
Inventory – Active listings are still low, down 18% from May 2012. New listings did increase significantly in May, up 26% from a year ago. Overall, the Arlington market is very strong right now. Homes are selling quickly, and more homes are coming on the market.
The Northern Virginia real estate market statistics are (through May 2013):
Sold (Single Family, Condos and Townhouses)
3,887 Closed Sales
$493,588- Average Sales Price
98.76% – Average Sold to Orig List Price
32 average days on market (DOM)
Northern Virginia, like Arlington, is a seller’s market at the moment. Homes are selling within 32 days on average, and for almost 99% of original list price.
Inventory is on the rise from last month, and although it is still lower than a year ago, it should continue to increase in June as more sellers try to cash in on the hot market.
If you’re a buyer, the low inventory means you have to be ready to make an offer when you see the right house. All your paperwork must be complete before making an offer, that includes a lenders letter or proof of cash (if an all cash purchase).
There are also a bunch of homes getting ready to be listed. Working with a realtor will increase your chances of seeing homes as they are listed, and getting the first chance at putting an offer on the new listings.
If you have any questions or would like to discuss your real estate needs please call or text me a 571.305.2405 or email lsagatov@kw.com